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
About this deal
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:
- Property Type: Retail
- Transaction Amount: $112/ft
- Lease Term: 10 years
- Lease Type: Modified Gross Lease
- Landlord: PDS Hospitality
- Tenant: Wasabi Hospitality
- Brokers: Khashy Eyn, Joseph Zalta, Steven Evans & Brian Peer - Platinum Properties
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.
On the Map
$112
$112/SF
Retail
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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
141633.93%
Cash-on-Cash
-40479.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93