Updated Dec 20, 2023
Hildreth Real Estate Advisors & Cohen Capital JV Acquire Mixed-Use Property In Montclair For $1.3M
547 Valley Road, Montclair, NJ, USA
$1,325,000
$246/SF
Building Size
5,380 SF
Asset Type
Mixed-use
Closing
Dec 22, 2020
About this deal
AI
A mixed-use property consisting of 5 units, 3 retail spaces, and 2 townhomes, located at 547 Valley Road in Montclair, was recently sold. The property, with a total square footage of 5,380, was part of a closed transaction.
Summary of Transaction Details:
- Property Type: Mixed-use 5 units (3 Retail & 2 Townhomes)
- Transaction Amount: $1,325,000
- Listing Price: $1,560,000
- Market: Montclair
- Buyers: Hildreth Real Estate Advisors & Cohen Capital JV - David Shorenstein, Jason Breitstone, Sahil Gandhi, Max Padway, & JD Cohen
- Seller: Estate of Margaret Testa
- Broker: Julienne Pape
The buyers involved in the transaction were Hildreth Real Estate Advisors and Cohen Capital JV. The team consisted of David Shorenstein, Jason Breitstone, Sahil Gandhi, Max Padway, and JD Cohen. On the seller's side was the Estate of Margaret Testa. The deal was facilitated by broker Julienne Pape.
Players
Montclair Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
11.97%
Cash-on-Cash
-3.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93