Eric Gural & Jeffrey Gural Lease Retail Space To Brendan Creegan For 520 Henny In Midtown
520 8th Avenue
Building Size
4,000 SF
Asset Type
Retail
Closing
May 19, 2025
AI
The lease transaction involves a retail asset located at 520 8th Avenue in Midtown Manhattan, with a total area of 4,000 square feet. The lease has been secured for a term of 16 years and is set to accommodate a new upscale brasserie replacing the former Houndstooth Pub.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 520 8th Avenue
- Market: Midtown Manhattan
- Asset Size: 4,000 square feet
- Landlord: Eric Gural & Jeffrey Gural - GFP Real Estate
- Tenant: Brendan Creegan - 520 Henny
- Broker: Allen Gurevich & Matthew Mandell - GFP Real Estate
- Lease Term: 16-year lease
This transaction features Brendan Creegan, who will establish his third restaurant in Midtown, 520 Henny, slated to open in November near Penn Station. The restaurant will take over the space previously occupied by the Houndstooth Pub.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93