Hildreth Real Estate Advisors Acquires Mixed-Use Property In Sag Harbor, NY For $4M

Hildreth Real Estate Advisors (HREA) has acquired a vacant mixed-use building located at 3 Madison Street, Sag Harbor, NY, 11963. The property, situated in the Sag Harbor market of the Hamptons, spans 5,832 square feet and was sold for a sale price of $4,000,000. The asset was listed with an asking price of $5,695,000, resulting in a price per square foot of $686. The transaction took place on 05/07/2021.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $4,000,000
• Address: 3 Madison Street, Sag Harbor, NY, 11963
• Market: Sag Harbor, Hamptons

The buyer, Hildreth Real Estate Advisors, was represented by David Shorenstein, Jason Breitstone, Max Padway, and Yair Sarraf. On the other hand, Maximillan Eicke acted as the seller in the transaction. The deal was facilitated by brokers from Saunders & Associates and Douglas Elliman Real Estate.

It is noteworthy that HREA acquired the vacant building and successfully leased it during the contract period. The proforma cap rate for the property is 11.4%. Hildreth Real Estate Advisors is actively seeking commercial real estate deals and interested parties can reach out to them at [email protected].