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412 Greenwich Street, Manha...

Retail Space Leased In TriBeCa's 412 Greenwich St. By L'Abeille With SCG As Tenant's Rep
LEASEDRetail

Retail Space Leased In TriBeCa's 412 Greenwich St. By L'Abeille With SCG As Tenant's Rep

412 Greenwich Street, Manhattan, New York, NY 10013, USA

Building Size

2,500 SF

Asset Type

Retail

Closing

Oct 1, 2021

AI

The retail property located at 412 Greenwich St. in TriBeCa has been leased. The property, with a total area of 2,500 square feet, was leased by tenant L'Abeille. The lease transaction was facilitated by David Firestein, Jenna Heidenberg, and Amanda Sujak of SCG, representing the tenant. The landlord, The Sterling Mason - Taconic Partners, was represented by Brandon Singer and Michael Cody of Retail By MONA. The lease was finalized on October 1, 2021.

Summary of Transaction Details:

  • Property Type: Retail
  • Asking Rent: $150 per square foot
  • Total Square Footage: 2,500
  • Date: October 1, 2021
  • Address: 412 Greenwich St.
  • Market: TriBeCa

The leasing transaction brings tenant L'Abeille to the prime retail space at 412 Greenwich St. in TriBeCa. The lease agreement was negotiated by David Firestein, Jenna Heidenberg, and Amanda Sujak of SCG, who represented the tenant in the deal. On the landlord's side, Brandon Singer and Michael Cody of Retail By MONA acted as The Sterling Mason - Taconic Partners' representatives. This lease agreement provides L'Abeille with a prominent retail presence in the vibrant TriBeCa market.

Players

Brandon Singer

Retail By Mona

Broker

$84.3M

vol

59 deals

Broker
Taconic Partners
Taconic PartnersLandlord

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93