Hungarian interactive entertainment company, PanIQ Escape Rooms, will open its first New York City location at 290 Grand Street on the Lower East Side.
David Ho, of Okada & Company, represented PanIQ Escape Rooms in the lease of 3,000 s/f.
The company will utilize two storefronts on the ground floor of the building as well as all of the lower level to build a flagship New York space with five escape room themes including the Insane Asylum, Prison and Wild West.
Ho, who specializes in office and retail leasing, worked with several interactive entertainment companies in New York, including Mystery Room NYC, to find locations throughout the big apple. Nir Gilboa of Nolita Group represented the landlord.
Conceived in Hungary, and developed in the United States, PanIQ Escape Rooms now has 11 locations in the United States, Europe, and Australia and this year began selling franchise licenses. The company is one of the fastest growing escape room brand in the US.
According to Ho, the cumulative asking rent for the space was $16,000 a month.