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29 East 30th Street

Gan Hoo BBQ Leases Retail Space In Manhattan From David Magier
LEASEDRetail

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

Jessilyn Chen

Arktic Real Estate

Broker

16 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

110159.72%

Cash-on-Cash

-31483.99%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93