30-12 Astoria

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Forward-starting lease · 30-12 Astoria Blvd

A great location stuck with the wrong operators. Let's fix that.

Operations handover on day one. At Day 90, the entire structure flips — lease, guaranty, deposit, arrears plan. Both sides locked in.

Today Current state of 3012 Astoria Blvd — blank dispensary storefront flanked by Wine & Spirits and a coffee shop

Two glowing storefronts. One dark middle door.

The block is alive on either side. In the middle sits a licensed dispensary that reads as closed — no awning, no glow, no reason for anyone walking past to slow down. It feels like the block forgot it was there.

After relaunch HighLine Astoria at night — illuminated signage, queue at the door, JR's burgers and Wine & Spirits flanking, Q18 bus and elevated subway in frame

Three reasons to stop on the corner.

Illuminated awning. A line at the door. The Q18 pulling in. The block finally working as one destination instead of two with a dead spot between them.

The dispensary at 30-12 Astoria Blvd has been mismanaged into roughly $100,000 in landlord-side arrears — back rent, property tax, and unpaid utilities. No signage. No marketing. A guarantor seeking release. Here's the proposal: a new management company — with the license holders' assent already in place — takes over operations on day one, has the space looking like the renderings on this site within five days of the keys, continues upgrading through the 90-day window, and at Day 90 the entire structure flips — lease assigned to a clean entity, fresh personal guaranty replacing Tim Derham's, fresh security deposit posted, the existing deposit reverting to you against the arrears, and a written monthly payment plan beginning. Both sides locked in at signing. The only out is a license-disrupting event. The practical alternative for the property is months of vacancy with the existing arrears unresolved.

From: The new management company (NewCo) License Holders: Daniel Boland & Kevin Dunn — assent in place For: Landlord, 30-12 Astoria Blvd Status: Operations day one · facelift in 5 days · the flip at Day 90
Live
3012 Astoria Blvd · Q18 bus stop

Bag in hand. Bus pulling up. The whole point of this corner.

Thousands of commuters wait a few feet from this door every weekday. Today they don't even know it's a dispensary. Post-relaunch, they're walking out with a bag and catching the Q18.

Inside, today vs. post-relaunch

Same four walls. Different business.

Today Current state of dispensary — sparse shelves, taped notice, no signage

Half-empty shelves. A taped-up sign. Lights on, life off.

Cash only. No exterior sign. No marketing. Anyone who finds the place finds it despite the room, not because of it. Quiet shelves, dim corners, the feeling that nobody's home — even when someone's behind the counter.

After relaunch Vision of redesigned dispensary — full shelves, exposed brick, illuminated branding

HighLine Astoria. A neighborhood spot.

Warm light on exposed brick, walls of full shelves, a fast-pickup lane built for commuters coming off the bus and the N/W. A room people walk in for, not just toward.

↓ How we get there ↓
Why this corner

The location is doing the heavy lifting already.

This isn't a hopeful pitch about future demand. The customers are already at the door — five MTA bus routes stop in front, the N/W subway is one block away, and 37,000 people in the immediate ZIP code over-index on every metric that matters for cannabis retail.

$37,500
January 2026 revenue. Cash-only. No sign. No marketing. ~$9K of that came in over a single warm-weather weekend. That's the floor.
3–5K
People at the bus stop daily. Q19, M60-SBS, Q100, Q101, Q18 — the M60 runs to LaGuardia 24/7.
10–14K
Subway riders through the N/W station one block away, every single day.
37K+
Residents in the ZIP. Median income $97K. Median age 37. 60% college-educated. 87% renters.

Comparable Astoria dispensaries that are actually run are doing well into six figures a month. We're targeting $100–150K monthly within ~6 months of relaunch, scaling from there. At that level, rent is comfortably covered with substantial margin, the arrears are paid down on schedule, and you have an anchor tenant for the rest of the lease term — full projections in the proposal doc.

How the deal is structured

Operations day one. The flip at Day 90.

A binding agreement signed now, with both sides locked in. The new management group takes over operations of the store on day one and runs it through the 90-day window, doing the Phase 1 build-out and getting marketing in the ground. At Day 90, the entire structure flips in a single coordinated step. Phase 2 — strategic capital — comes after.

01
Days 0–90 · NewCo operates & builds out

Day 1: keys handed over. Day 5: it looks like the renderings.

  • The new management company (NewCo) takes over operations on day one under a management agreement. Daniel and Kevin remain the regulatory licensees. Existing rent obligations continue unchanged.
  • Visible facelift complete within 5 days of taking the keys. Exterior signage, awning, window graphics, paint, lighting, shelving, finishes — the space matches the renderings already on this site. The plans we are committing to are the ones you have already seen.
  • Continued upgrades through Days 5–90. Finishing details, brand build-out, refining what's been started.
  • Marketing program deployed. Local print, bus-shelter QR, social, brand identity, grand-reopening campaign. The larger of the two early budget lines.
  • Tax returns & full financial information on every principal — delivered to you under NDA pre-signing, within days.
  • Phase 2 plan submitted within 45 days, fully agreed with you by Day 90.
  • The forward-starting lease itself is signed at Day 0 — there are no later lease documents to finalize. The lease you sign at signing is the lease that commences at Day 90.
02
Day 90 · The Flip

Everything flips. One coordinated step.

  • The forward-starting lease commences. The new holding company (signatory at Day 0) becomes the tenant of record. The existing lease arrangement with the prior tenant entity terminates. No legacy baggage.
  • Tim Derham's personal guaranty terminates. He walks away clean. New Good Guy Guaranty from management principals takes effect (12–16 months).
  • Existing security deposit reverts to you, applied directly against the back rent + utilities + tax arrears.
  • New security deposit posted by the new tenant. Your protection on the lease is restored.
  • Monthly arrears payment plan begins. Back rent, utilities, and tax balances erode against scheduled payments.
  • Sublease in place from the new holding company to the licensed dispensary entity. The holding company is the lessee of record and the source of the personal guaranty; the licensed entity occupies the premises as sublessee.
03
Months 1–6 post-flip · Phase 2

Strategic capital. Throughput, not renovation.

  • Storage area build-out. Proper shelving, security, and intake/check-in workflow. The current storage layout is a constraint on inventory handling and turnover.
  • Throughput improvements. POS upgrade, checkout flow, fast-pickup lane, cashless processing — targeted investment in the places where customer flow is currently slowed.
  • Monthly arrears payments continue on the written schedule, with the balance eroding month over month.
  • Target: full resolution of all landlord-side arrears within 6–9 months of the flip.
  • The premise: the location does not need a wholesale rebuild. It needs the right tenant, basic finish work, and a focused capital injection in the places that move the business.
Where the $100K goes

The arrears, on one page.

Landlord-side only — back rent, utilities, and property tax. No surprises, no hidden line items. Vendor balances, service agreements, and prior operator obligations are not in this scope; they remain with the existing operating entity.

ObligationEstimatedResolution at the flip & after
Back rent $48–64K Existing deposit reverts to landlord at Day 90 + monthly payments after
Unpaid utilities $10–15K Direct payment from operations post-flip
Property tax arrears (if any) TBD Folded into the monthly payment plan
Total landlord-side arrears ~$100K Targeted resolution: 6–9 months post-flip

Out of scope: vendor balances, service-provider agreements, prior staff disputes, payroll-tax arrears, software/POS arrears, and any other operator-level obligations. The new tenant does not assume these. They remain the responsibility of the existing operating entity. They are not the landlord's concern, and they do not affect this transaction.

How our money works.

Full transparency on how the business is structured financially — and where you sit in the priority stack.

Rent first. Always.

Rent is the first check written every month — before payroll, inventory, our loan repayment, or our management fee. Your interests are ahead of ours, full stop.

Capital is a loan, not a gift.

What we put in for signage, inventory, marketing, and stabilization is documented as a senior secured loan to the business. We get paid back from revenue — after operating expenses are covered.

10% management fee.

A 10% management services fee on gross revenue covers staffing, compliance, financial controls, vendor management, and operational support. Standard, transparent, and after rent.

Arrears come from cash flow.

Back rent is paid from available cash flow once operations stabilize — not as a gift from us, but from a business that's actually generating revenue. That's why this works long term.

What we're committing to

Locked-in milestones.

Everything we've said above, mapped to dates. If we miss these, you have every right to come after us.

✓
Tax returns & full financial info (every principal)Pre-signing, within days, under NDA.
✓
Forward-starting lease executed; both sides boundAt signing (Day 0).
✓
NewCo takes over operations; keys handed overDay 1.
✓
Visible facelift complete — matches the renderingsWithin 5 days of Day 1.
✓
Continued upgrades and brand build-outDays 5–90.
✓
Phase 2 plan submitted (storage + throughput)Within 45 days.
✓
Phase 2 plan fully agreed with the landlordBy Day 90.
✓
The flip — lease commences, new guaranty, deposit, payment planDay 90.
✓
Existing deposit reverts to landlord (against arrears)At the flip.
✓
Monthly arrears payments beginMonth 1 post-flip.
✓
Phase 2 capital deployed — storage + throughputMonths 1–6 post-flip.
✓
All landlord-side arrears resolvedTarget: 6–9 months post-flip.
The out clause

Both sides locked in. One narrow exit.

This is not a 90-day trial. Both parties commit at signing. The only condition under which the new entity can withdraw before the flip is a license-disrupting event affecting the existing licensees during the 0–90 window.

!
OCM enforcement action, suspension, or revocationAffecting the existing licensees during the 0–90 window.
!
Criminal investigation or chargeThat compromises regulatory standing at the licensee level.
!
Any regulatory event preventing licensed operationFrom the premises before the flip.
!
If triggered: deal terminates, status quo anteBoth parties revert. Existing tenant remains, existing guaranty remains. New management's investment in Phase 1 during the window is its own sunk cost.

There is no financing contingency. There is no inspection-based out. There is no general "good faith" termination right. The deal we sign is the deal we close — the only carve-out is a regulatory event at the licensee level that none of us can underwrite.

What we're asking

Five things. That's it.

Execute a binding forward-starting lease, signed now, with the flip at Day 90 on the structure above. Apply the existing security deposit toward landlord-side arrears at the flip. Forbearance on the remaining balance against the written eroding payment plan. No eviction proceedings during the 0–90 window or post-flip stabilization, provided current rent and arrears payments continue per schedule. A defined, narrow out clause — license-disrupting events only. If triggered, the deal terminates and both sides revert to status quo.

What's on this page is the headline. The full PDF is the structural document — operations handover, Phase 1 build-out, the Day-90 flip, Phase 2 strategic capital, and the landlord-side arrears resolution in full.

↓ Get the full PDF Back to top