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
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.
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