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Chinatown Retailer Leases 20,000-SF Space; Eyes Consolidation

NEW YORK CITY-Chinatown-based bricks-and-clicks retailer Pearl River leases the ground floor of a Downtown Broadway property located within blocks of its two existing stores.

By Glen Thompson | Updated on August 23, 2001

NEW YORK CITY-Pearl River Inc., owner of two Asian specialty-goods retail stores in Chinatown, has signed a 10-year lease on a 20,000-sf space within walking distance of its other outlets. Talks are under way to shutter the existing outlets and use the new space to consolidate the operation under one roof.

The retailer, which has been featured in numerous high-profile shelter and lifestyle publications, has taken the entire ground floor of 477 Broadway. According to Rich Du, the Helmsley Spears broker who represented Pearl River and building owner Nathan Baden in the transaction, the space was leased for $85 per sf.

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