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
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.
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