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160 Main Street

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

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

$12,300,000

$489/SF

Building Size

25,120 SF

Asset Type

Retail

Closing

Jan 31, 2025

AI

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

Vidal/Wettenstein

Broker

$33.7M

vol

7 deals

Broker

Westport Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.29%

Cash-on-Cash

-0.37%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93