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
Ridgewood Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
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