The luxury online fashion retailer Moda Operandi has reached an agreement with the real estate developer The Davis Companies to lease 30,000 square feet at the newly renovated Pearl Building, an industrial property at 58-30 Grand Ave. in Maspeth.
Moda Operandi’s lease is for space on the third floor of the three-story, 157,000-square-foot building, which will be used as a distribution center.
“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,” Moda Operandi CFO/COO Dermott Sullivan said. “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.”
Founded in 2010, Moda Operandi is a luxury fashion e-commerce platform known for offering high-end clothing, accessories, and home décor from top designers and emerging labels alike. The company differentiates itself through its trunkshow model, which allows customers to pre-order runway looks directly after fashion shows, often months before they’re available elsewhere.
The Pearl Building was recently transformed through a multi-million-dollar capital improvement program. The loading facilities were updated with new dock doors, levelers and bumpers. New LED lighting was also added to the loading facilities. Additionally, the building’s facade was restored and numerous internal improvements were made, including upgrades to the lobby and adding 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,” The Davis Companies Senior Vice President of Asset Management David Allen said. “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.”
In addition to featuring enhanced distribution specifications, the Pearl Building is also attractive to businesses due to its location, as it provides tenants with premier access to the greater New York City metropolitan area. It is just five miles away from Midtown Manhattan. The building also offers broader regional connectivity through the nearby Interstates 278 and 495.
During leasing negotiations, Moda Operandi was represented by Owen Hane of JLL. The Davis Companies was represented by a team from Cushman and Wakefield, which included Rico Murtha, Helen Paul, Joe Hentze Jr. and Sonny Singh.
Other tenants that Moda Operandi will join at the Pearl Building include the electric bike, motorcycle and scooter company FLY E-BIKE and Stronghold East LLC, a third-party logistics provider that services hospital network clients through its medical supply distribution location. Following Moda Operandi’s lease of 30,000 square feet, there is still another 22,000 square feet of rentable space available on the third floor.
