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428 Greenwich Street

PDS Hospitality Leases Retail Space To Wasabi Hospitality At 428 Greenwich Street In Tribeca
LEASEDRetail

PDS Hospitality Leases Retail Space To Wasabi Hospitality At 428 Greenwich Street In Tribeca

428 Greenwich Street

$112

$112/SF

Building Size

2,769 SF

Asset Type

Retail

Closing

Jun 3, 2025

AI

The property asset involved in this transaction is located at 428 Greenwich Street in Tribeca. The retail space encompasses 2,769 square feet and has an asking rent of $112 per square foot. The lease term is set for 10 years under a Modified Gross Lease structure.

Summary of transaction details:

The transaction involves key individuals from Platinum Properties: Khashy Eyn, Joseph Zalta, Steven Evans, and Brian Peer, who represented the interests of the landlord and tenant in this lease agreement.

Players

Khashy Eyn

Platinum Commercial

Broker

$581.9M

vol

24 deals

Broker

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

141633.93%

Cash-on-Cash

-40479.41%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93