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1615 Palmetto Street

Hector Berja Purchases Retail Property In Ridgewood From Harry Auerbach For $370,000
SOLDRetail

Hector Berja Purchases Retail Property In Ridgewood From Harry Auerbach For $370,000

1615 Palmetto Street

$370,000

$626/SF

Building Size

591 SF

Asset Type

Retail

Closing

Feb 16, 2026

AI

The retail asset located at 16-15 Palmetto Street in Ridgewood has been sold for $370,000. The property encompasses 591 square feet, resulting in a price per square foot of $626.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $370,000
  • Address: 16-15 Palmetto Street
  • Market: Ridgewood
  • Square Footage: 591
  • Price per Square Foot: $626
  • Buyer: Hector Berja
  • Seller: Harry Auerbach
  • Brokers: Jacques Wadler & Vincent Lopez - Knickerbocker Realty Group

Knickerbocker Realty Group represented both the buyer and seller in this transaction, ensuring a seamless execution. The acquisition has a 30-day contract and was occupied at the time of closing.

Players

Jacques Wadler

Knickerbocker Realty Group

Broker

$15.8M

vol

11 deals

Broker

Ridgewood Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

42.87%

Cash-on-Cash

-12.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93