Proposal · 30-12 Astoria Blvd

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

Same block. Same neighbors. Different middle door — in 30 days.

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.

In 30 days 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 on Astoria Blvd has been mismanaged into about $100K of arrears, with no signage, no marketing, and a guarantor on his way out. The location itself? One of the best in Queens. Here's a direct proposal — what we're taking over, how we're paying you back, and what the place is going to look like in 30 days.

License Holders: Daniel Boland & Kevin Dunn For: Landlord, 30-12 Astoria Blvd Status: New management, day one
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. In 30 days, they're walking out with a bag and catching the Q18.

Inside, today vs. 30 days from now

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.

In 30 days 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.

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.
~$9K
Roughly a single weekend, cash-only, on the first warm-weather days. No sign. No marketing.

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

The turnaround

Three phases. No hand-waving.

From the day we take operational control, here's the order of operations. Phase 1 is happening immediately. Phase 2 starts the moment revenue stabilizes. Phase 3 cleans up the legal structure once the business is back on its feet.

01
Days 1–30

The facelift.

  • Outdoor signage installed. Illuminated exterior, A-frame, window graphics. The store needs to look open — right now nobody walking by can tell.
  • Local advertising launched. Flyers and cards in every bodega, coffee shop, and laundromat within a block. Bus shelter QR. Social presence.
  • Fresh inventory. Existing brand and distributor relationships bring product on consignment and net terms — a full selection inside the first week.
  • New staff, new systems. Real POS, proper cash handling, extended hours for the morning and evening commuter waves.
  • Card processing on day one. Currently cash-only. Cashless typically lifts per-ticket revenue 20–30%.
02
Months 1–3

Back rent recovery.

  • Existing security deposit (~$48K) applied to back rent immediately. That alone reduces the outstanding balance to ~$50–65K.
  • Good-faith monthly payments against the remaining balance begin no later than Month 2 — on top of current rent, scaling up as revenue stabilizes.
  • Target: full resolution within 6–9 months from the date we assume operations.
  • Eviction is the worse outcome. It takes months, leaves the space vacant, and you still don't collect the back rent. This plan gets you current faster than any alternative.
03
Months 3–6

Lease restructuring.

  • New tenant entity. Lease assigned to a clean, well-capitalized holding company controlled by management — no legacy baggage from the prior operators.
  • Sublease to the licensed dispensary. If anything ever happens at the dispensary level (regulatory, license, anything), the lease stays intact.
  • New Good Guy Guaranty. Limited-term (12–16 months) personal guaranty from management principals, replacing Tim Derham's.
  • Same economics. Same rent, same escalation, same term. We're not renegotiating the deal — we're just putting a clean tenant on the other side of it.
Where the $100K goes

The math, on one page.

No surprises, no hidden line items. Here's the arrears as we understand them and how each piece gets resolved.

ObligationEstimatedResolution
Back rent $48–64K Security deposit application + monthly payments
Unpaid utilities $10–15K Direct payment from operations
Property tax arrears (if any) TBD Included in payment plan
Total estimated arrears ~$100K Targeted resolution: 6–9 months

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.

✓
Current rent paid monthly, on timeImmediately upon taking control.
✓
Signage, facelift, and relaunchWithin 30 days.
✓
Good-faith payments against arrears beginMonth 2.
✓
Lease restructured to new clean entityMonths 3–6.
✓
Replacement guarantor in placeReplaces Tim Derham upon lease restructuring.
✓
Security deposit replenishedWithin 12 months of restructured lease.
✓
All arrears fully resolvedTarget: 6–9 months from start.
✓
Long-term anchor tenantAstoria as the flagship of a multi-store NY operation.
What we're asking

Four things. That's it.

Apply the existing security deposit toward back rent. Forbearance on the remaining balance against a structured repayment plan. Consent to the management transition. No eviction proceedings during stabilization, as long as we're current on rent and arrears payments. In return: a professional operation in your building, immediate rent flow, real capital behind the lease, a replacement guarantor, and a long-term tenant. We think this is the best available outcome for everyone — and we're ready to start tomorrow.

What's on this page is the highlights. The full PDF goes deeper — month-by-month rollout schedule, complete arrears breakdown, financial projections, and detailed lease restructuring terms.

↓ Get the full PDF Back to top