Gan Hoo BBQ Leases Retail Space In Manhattan From David Magier
29 East 30th Street
$144
$144/SF
Building Size
2,500 SF
Asset Type
Retail
Closing
Feb 1, 2024
AI
The retail property located at 29 East 30th Street in Manhattan has been leased to Gan Hoo BBQ. The landlord of the property is David Magier, and the lease was facilitated by Jessilyn Chen from Arktic Real Estate. The lease terms include an asking rent of $144 per square foot for a 2,500 square foot space, with a lease term of 10 years.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not Applicable
- Address: 29 East 30th Street
- Market: Manhattan
- Landlord: David Magier
- Tenant: Gan Hoo BBQ
- Broker: Jessilyn Chen - Arktic Real Estate
- Asking Rent: $144/ft
- Lease Term: 10 Years
The deal was successfully brokered by Jessilyn Chen of Arktic Real Estate, representing both the landlord, David Magier, and the tenant, Gan Hoo BBQ, in the lease of the retail space. This transaction signifies a long-term commitment between the parties involved, setting the stage for a decade of operations at the bustling location in Manhattan.
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
110159.72%
Cash-on-Cash
-31483.99%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93