In this paper, we study the joint impact of three major RF im-pairments, namely, oscillator phase noise, power amplifier non-linearity and I/Q imbalance on the performance of a mm-wave communication link based on OFDM modulation. General im-pairment models are first derived for describing the joint effects in each TX, each RX as well as a mm-wave communication link. Based on the obtained signal models and initial air interface de-sign from the mmMAGIC project, we numerically evaluate the impact of RF impairments on channel estimation in terms of channel-to-noise ratio (CNR) and also channel fluctuation due to common phase error (CPE) caused by phase noise within the channel coherence time. Then the impact on the link performance in terms of maximum sum rate is evaluated using extensive com-puter simulations. The simulation results show that the used air interface design is generally robust to the presence of RF impair-ments. With regard to the use of high order modulation alphabet and implementation of low-power and low-cost RF transceivers in mm-wave communication, special attention needs to be paid on phase noise where the inter-carrier-interference (ICI) can become a major limiting factor.