Authorities say they've seized 55 kilograms (121 pounds) of cocaine from a fictitious jewelry business in New York's diamond district.
They say the drugs were worth $2 million and had been shipped from a fake jewelry business in Los Angeles.
Law enforcers identified the two fictitious businesses as Los Angeles-based Sapphire and New York-based 21 Divine.
Agents with the New York Drug Enforcement Task Force suspected that a cocaine distribution organization was using the two addresses as fronts.
New York City's special narcotics prosecutor, Bridget Brennan, obtained a search warrant for 21 Divine on Wednesday. Agents seized the packages of cocaine Thursday.
Authorities say 26-year-old Junior Lopez-Pena was arrested at the scene on drug-possession charges.
It's not known if he has an attorney who can speak for him.