Andrew Stern And Mai Shachi Of Newmark Represent Landlord In Tribeca Retail Lease For $120/ft
38 White Street
$120
$120/SF
Building Size
5,840 SF
Asset Type
Retail
Closing
Feb 21, 2026
AI
The property asset involved in this transaction is a retail space located at 38 White Street in the Tribeca market of Manhattan. The total area of the space is 5,840 square feet, with an asking rent of $120 per square foot. The lease type for this transaction is a Modified Gross Lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $120/ft
- Square Footage: 5,840
- Address: 38 White Street
- Market: Tribeca, Manhattan
- Landlord's Representative: Andrew Stern & Mai Shachi - Newmark
- Tenant's Representative: Jonathan Travis - Redwood Property Group
This transaction highlights the involvement of two main parties in the leasing arrangement, with Andrew Stern and Mai Shachi representing the landlord through Newmark, while Jonathan Travis represents the tenant through Redwood Property Group.
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
132191.67%
Cash-on-Cash
-37780.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93