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Michael Berkowitz Acquires 12,560 SF Retail Center In Westport For $12.3M With Vidal/Wettenstein As The Broker

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SOLD
$12,300,000

Connecticut

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Retail25,120 SF
Sold 01/31/2025
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Property Image
SOLD

Michael Berkowitz Acquires 12,560 SF Retail Center In Westport For $12.3M With Vidal/Wettenstein As The Broker

160 Main Street & 184 Main Street

See Similar Deals
Retail25,120 SF
Sold 01/31/2025
Contact now

Summary

CONNECTICUT
Asset Type:Retail
Price Per Square Foot:$489
Total Square Footage:25,120 SF
Transaction Type:Sale

The property involved in this transaction is a retail center located at 160-184 Main Street, Westport, CT. The sale price was $12,300,000 for a total square footage of 12,560, resulting in a price per square foot of $979. The asset is fully leased to tenants, including notable brands like Chase Bank and Eileen Fisher.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $12,300,000
  • Address: 160-184 Main Street
  • Market: Westport, CT
  • Square Footage: 12,560
  • Price per Square Foot: $979
  • Buyer: Michael Berkowitz
  • Seller: Hulbert Family Trust of Texas
  • Buyer's Representative: Bruce Wettenstein & David Fugitt - Vidal/Wettenstein
  • Seller's Representative: David Cohen - Moritt Hock & Hamroff

The transaction was facilitated by Bruce Wettenstein and David Fugitt from Vidal/Wettenstein, representing the buyer, Michael Berkowitz. The seller, Hulbert Family Trust of Texas, was represented by David Cohen from Moritt Hock & Hamroff, ensuring effective management of the deal.

Players

Bruce Wettenstein
7 deals$33.7M volume
BROKER

David Fugitt
Vidal/Wettenstein
1 deal$12.3M volume(203) 226-7101
BROKER

Details

SOLD
IMAGE: 01/31/2025 ADDRESS: 160-184 Main Street MARKET: Westport, CT ASSET TYPE: Retail BUYER: Michael Berkowitz SELLER: Hulbert Family Trust of Texas BUYER'S REP: Bruce Wettenstein & David Fugitt - Vidal/Wettenstein SELLER'S REP: David Cohen - Moritt Hock & Hamroff SALE PRICE: $12,300,000 SF: 12,560 ~ PPSF: $979 NOTE: Vidal/Wettenstein closed the $12.3M sale of a 12,560 s/f retail center at 160-184 Main St., fully leased to tenants including Chase Bank and Eileen Fisher. Buyer Michael Berkowitz of Fairfield acquired the property from the Hulbert Family Trust of Texas, with David Fugitt and Bruce Wettenstein brokering the deal.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$655,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$43,699.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$58,308.28
Annual Debt Service$699,699.30