Hildreth Real Estate Advisors Acquires Mixed-Use Property In Sag Harbor For $3.7M
11 Madison Street
$3,700,000
$1,216/SF
Building Size
3,042 SF
Asset Type
Mixed-use
Closing
Oct 25, 2023
AI
A prime mixed-use building located at 11 Madison Street in Sag Harbor, NY has been recently acquired by David Shorenstein, Jason Breitstone, and Harsh Patel of Hildreth Real Estate Advisors. The property, delivered vacant at closing, offers a total area of 3,042 square feet. The sale price for this transaction amounted to $3,700,000, resulting in a price per square foot of $1,216.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $3,700,000
- Square Footage: 3,042
- Address: 11 Madison Street, Sag Harbor, NY
- Market: Sag Harbor, Hamptons
Hildreth Real Estate Advisors (HREA) acted as the buyer's representative in this deal. The sellers were the Estate Of Scott A. Weiss. HREA, actively seeking commercial properties throughout the Tri-state area, welcomes any potential opportunities. Interested parties can reach out to HREA at [email protected].
Sag Harbor Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.29%
Cash-on-Cash
-1.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93