Mitchell Enterprises Leases Retail Space To Mario Procida At 121 Malcolm X Boulevard Harlem
121 Malcolm X Boulevard
$95
$95/SF
Building Size
6,550 SF
Asset Type
Retail
Closing
Jan 2, 2026
AI
The property involved in this transaction is a retail space located at 121 Malcolm X Boulevard in Harlem. The premises feature a lease with an asking rent of $95 per square foot and encompasses a total area of 6,550 square feet. The lease type is classified as a Modified Gross Lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $95/ft
- Square Footage: 6,550
- Address: 121 Malcolm X Boulevard
- Market: Harlem
- Landlord: Mitchell Enterprises
- Tenant: Mario Procida - Procida Development dba MALCOLM SHABAZZ MARKET
- Broker: Aric Trakhtenberg - Newmark
- Attorney: Wachtel Missry LLP, Michael P. Miata, Esq. & Eli D. Dweck Esq.
This lease transaction features prominent individuals and entities, with Mario Procida representing Procida Development in operating the Malcolm Shabazz Market. The deal was brokered by Aric Trakhtenberg from Newmark, and the legal aspects were managed by attorneys Michael P. Miata and Eli D. Dweck from Wachtel Missry LLP.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
166978.95%
Cash-on-Cash
-47723.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93