Zelnik & Company Leases Retail Space To Pearl Pilates At 538 West 28th Street
The lease involves a retail asset located at 538 West 28th Street in the West Chelsea market of Manhattan. The asking rent for the property is set at $100 per square foot, encompassing a total area of 1,500 square feet. The lease type is classified as a Modified Gross Lease. Pearl Pilates is expected to host their Soft Opening September 9th and their Grand Opening September 16th 2024.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $150,000
- Address: 538 West 28th Street
- Total Units: 90
- Total Stories: 13
- Market: West Chelsea, Manhattan
- Landlord: Ekstein Development Group
- Tenant: Pearl Pilates
- Brokers: Jeremy Banilevi, Cory Zelnik & Jason Turner – Zelnik & Company
The transaction was facilitated by exclusive Landlord representatives, Jeremy Banilevi, Cory Zelnik and Jason Turner, of Zelnik & Company. The role of the retail brokers was crucial in connecting the landlord, Ekstein Development Group, with the tenant, Pearl Pilates, for this lease agreement.
Pearl Pilates is a classic Pilates studio located on a picturesque West Chelsea side street . They will offer group classes, private classes as well as massages. The studio is slated to open later this month.
