Michael Hoffenberg's Trevian Capital Provides $9M Acquisition Loan For 19,000 SF Retail Property In Hamptons
15 Hill Street
$9,000,000
$473/SF
Building Size
19,000 SF
Asset Type
Retail
Closing
Jan 31, 2024
About this deal
AI
The Hamptons retail property located at 15 Hill Street has been sold in a closed transaction. The property spans an impressive 19,000 square feet and is classified as a retail asset.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $9,000,000
- Address: 15 Hill Street
- Market: Hamptons
- Lender: Michael Hoffenberg - Trevian Capital
- Broker: Ryan Horowitz - Cooper Horowitz
Michael Hoffenberg from Trevian Capital served as the lender for this acquisition loan. The loan amount was $9,000,000 and was utilized for the purchase of the retail property at 15 Hill Street. Ryan Horowitz from Cooper Horowitz represented the buyer throughout the transaction.
On the Map
$9,000,000
$473/SF
Retail
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Players
Southampton Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93