Updated Feb 22, 2026
Vishal Patel Purchases Retail/Specialty Property From Lawrence Erlbaum For $1.9 Million In Hillsdale
365 Broadway
$1,900,000
$271/SF
Building Size
7,000 SF
Asset Type
Retail
Closing
Jan 30, 2026
About this deal
AI
The transaction involves a retail/specialty purpose property located at 365 Broadway in Hillsdale. The sale price for this asset was $1,900,000, which translates to a price per square foot of $271, covering a total area of 7,000 square feet.
Summary of transaction details:
- Property Type: Retail/Specialty Purpose
- Transaction Amount: $1,900,000
- Address: 365 Broadway
- Market: Hillsdale
- Square Footage: 7,000
- Price Per Square Foot: $271
- Buyer: Vishal Patel
- Seller: Lawrence Erlbaum
- Broker Representatives: Edward Kim & Christine Forsini - Prominent Properties Commercial
Edward Kim and Christine Forsini represented the transaction, bringing expertise from Prominent Properties Commercial to facilitate the sale between Vishal Patel and Lawrence Erlbaum.
On the Map
$1,900,000
$271/SF
Retail
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Players
Hillsdale 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
8.35%
Cash-on-Cash
-2.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93