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Hildreth Real Estate Advisors Acquires Package Deal In Southampton & Westhampton Beach For $4.3M

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SOLD
$4,312,500
+ 5

New York

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Package Deal21,840 SF
Sold 09/13/2022
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SOLD

Hildreth Real Estate Advisors Acquires Package Deal In Southampton & Westhampton Beach For $4.3M

40 West Main Street, 149 Hampton Road & 16 Library Avenue

See Similar Deals
Package Deal21,840 SF
Sold 09/13/2022
+ 5
Contact now

Summary

NEW YORK
Asset Type:Package Deal
Price Per Square Foot:$197
Total Square Footage:21,840 SF
Transaction Type:Sale

A package deal consisting of three buildings was purchased in Southampton and Westhampton Beach. The asset type includes one single tenant retail building and two multi-tenant office buildings. The total sale price reached $4,312,500, with an approximate square footage of 7,280 and a price per square foot of $592. The involved addresses for this transaction are 40 W. Main St., 149 Hampton Rd., and 16 Library Ave.

Summary of transaction details:

  • Property Type: Package Deal
  • Transaction Amount: $4,312,500
  • Square Footage: 7,280
  • Price per Square Foot: $592
  • Buyer: Hildreth Real Estate Advisors
  • Buyer Representatives: David Shorenstein, Jason Breitstone, Max Padway, Yair Sarraf
  • Seller: Sheila Guidera, Dorothea Donaldson, Fred Vanderwerven, Oakley Gentry Jr.
  • Market: Southampton & Westhampton Beach

Hildreth Real Estate Advisors is actively seeking additional commercial properties in the Hamptons area. The transaction was unique as it involved purchasing directly off-market from three separate sellers.

Players

David Shorenstein
60 deals$187.3M volume
BUYER

Jason Breitstone
Hildreth Real Estate Advisors
35 deals$130.8M volume
BUYER

Max Padway
Hildreth Real Estate Advisors
23 deals$93.7M volume
BUYER

Yair Sarraf
Hildreth Real Estate Advisors
13 deals$49M volume
BUYER


2 deals$8.6M volume
SELLER

2 deals$8.6M volume
SELLER

2 deals$8.6M volume
SELLER

Details

SOLD
IMAGE: David Shorenstein, Jason Breitstone, Max Padway & Yair Sarraf DATE: 09/13/2022 ADDRESS: 40 W. Main St., 149 Hampton Rd. & 16 Library Ave. MARKET: Southampton & Westhampton Beach ASSET TYPE: Package Deal BUYER: Hildreth Real Estate Advisors - David Shorenstein (@ShoreShot1), Jason Breitstone (@JabStone), Max Padway (@Max_Padway) & Yair Sarraf (@Yair_Sarraf) SELLER: Sheila Guidera, Dorothea Donaldson, Fred Vanderwerven & Oakley Gentry Jr. SALE PRICE: $4,312,500 SF: 7,280 ~ PPSF: $592 NOTE FROM BUYER: Hildreth Real Estate Advisors is actively seeking commercial properties in the Hamptons area. Please send opportunities to [email protected]. Three building package consisting of (one) single tenant retail building & (two) multi-tenant office buildings purchased off-market directly from three separate sellers.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$229,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,321.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,443.45
Annual Debt Service$245,321.40