Queens, NY (May 1, 2025) – The Davis Companies (Davis) today announced that it has executed a lease with luxury online fashion retailer Moda Operandi as the newest tenant at the Pearl Building, a recently renovated industrial property located at 58-30 Grand Ave in the Maspeth submarket of Queens, NY. The three-story, 157,000-square-foot Pearl Building features enhanced distribution specifications and is ideally located to provide tenants premier access to the greater New York Metro area.
The Pearl Building recently underwent a multimillion-dollar capital improvement program, resulting in updated loading facilities including new dock doors, levelers, bumpers, and new LED lighting throughout. The building also received a façade restoration and internal improvements including lobby upgrades and new restrooms.
“The demand for well-located, high-functioning industrial space in New York City remains strong, and properties like the Pearl Building are ideally positioned to meet that need,” said David Allen, Senior Vice President of Asset Management at Davis. “With the recent upgrades to the building and ideal access to the city and surrounding areas, the space offers an ideal solution for dynamic companies like Moda Operandi. We’re proud to support their strategic vision and to further broaden the building’s tenant mix with such an innovative partner.”
Moda Operandi will occupy approximately 30,000 square feet of a portion of the 3rd floor of the building for use as a distribution center. Located within New York City, the site provides easy access to the densest population base in the country in a location that is five miles from Midtown Manhattan and also boasts broader regional connectivity via nearby Interstates 278 and 495.
Since our launch, Moda Operandi has continuously evaluated how luxury fashion reaches the most discerning of consumers and our sustained growth is a testament to that vision,” said Dermott Sullivan, CFO/COO at Moda Operandi. “Our new location at The Pearl Building marks a significant step forward in strengthening our distribution capabilities, enabling us to deliver exceptional fashion with greater efficiency and speed to the New York region and beyond.
Other tenants of the Pearl Building include FLY E-BIKE, a leading electric bike, motorcycle, and scooter company, and Stronghold East LLC, a third-party logistics provider that services hospital network clients through its medical supply distribution location. 22,000 square feet of rentable space remains available to lease on the third floor.
A team from Cushman & Wakefield including Rico Murtha, Helen Paul, Joe Hentze Jr. and Sonny Singh represented ownership, and Owen Hane of JLL represented the tenant.