Hermes Management LLC Purchases 1235 Grand Avenue Retail Property In Baldwin For $3.6M

A New York-based Hermes Management LLC purchased a 4,500-SF Chase-occupied bank property located at 1235 Grand Avenue in Baldwin. The sale price was $3,600,000, resulting in a price per square foot of $800. The property encompasses 1.09 acres and operates under a cap rate of 5.36%. The lease for the property extends through February 2028 and includes two five-year extension options.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $3,600,000
• Address: 1235 Grand Avenue
• Market: Baldwin
• Buyer: Hermes Management LLC
• Seller: RDC Baldwin LLC
• Buyer's Representative: Anne Chang - Jade Stone Real Estate
• Seller's Representative: Dylan Silber - Silber Investment Properties
• Square Footage: 4,500
• Price per Square Foot: $800
• Acres: 1.09

Anne Chang represented Hermes Management LLC in the transaction, while Dylan Silber represented RDC Baldwin LLC. This deal highlights the active participation of prominent real estate professionals in facilitating the successful transaction.