Updated Jan 30, 2025
Paul Feuerstein Acquires Retail Asset From Charles River Realty In Manchester For $3.1M
240 Buckland Street
$3,100,000
$717/SF
Building Size
4,322 SF
Asset Type
Retail
Closing
Jan 28, 2025
About this deal
AI
The asset involved in this transaction is a retail property located at 240 Buckland Street in Manchester, CT. The sale was completed for a total price of $3,100,000, encompassing a total square footage of 4,322, which amounts to a price per square foot of $717. The property is leased to Curaleaf under a NNN lease agreement.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,100,000
- Address: 240 Buckland Street
- Market: Manchester, CT
- Square Footage: 4,322
- Price Per Square Foot: $717
- Buyer: Paul Feuerstein
- Seller: Charles River Realty
- Broker: Josh Goldflam - Highcap Group
- Cap Rate: 8%
The transaction highlights the active involvement of key individuals and companies, with Josh Goldflam from Highcap Group representing the seller, Charles River Realty. The lease with Curaleaf contributes to the property's investment appeal.
On the Map
$3,100,000
$717/SF
Retail
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Players
Manchester 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
5.12%
Cash-on-Cash
-1.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93