The property asset involved in this transaction is a retail space located at 354 West 38th Street in the Garment District. It encompasses a total of 3,400 square feet and was leased at an asking rent of $29 per square foot. The lease is structured as a Modified Gross Lease and spans a term of 15 years. The landlord for this lease deal is John Esposito and the tenant is Liberty Bagels.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $29/ft
• Square Footage: 3,400
• Address: 354 West 38th Street
• Market: Garment District
• Landlord: John Esposito
• Tenant: Liberty Bagels
• Lease Term: 15 Years
• Lease Type: Modified Gross Lease
• Brokers: Brandon Efap & Joseph Sobolov - Investment Property Realty Group

The deal was facilitated by brokers Brandon Efap and Joseph Sobolov from Investment Property Realty Group, who played crucial roles in the successful leasing of the property. Notably, the transaction was completed in one-third of the time allotted for the exclusive listing, indicating an effective marketing strategy. Additionally, the tenant, Liberty Bagels, is identified as a perfect user for the neighborhood after a long vacancy of the retail space.