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1864 Deer Park Avenue, Deer...

Hildreth Real Estate Advisors Acquires Retail Property In Deer Park, Long Island For $2.6M
SOLDRetail

Hildreth Real Estate Advisors Acquires Retail Property In Deer Park, Long Island For $2.6M

1864 Deer Park Avenue, Deer Park, New York 11729, United States

$2,600,000

$353/SF

Building Size

7,350 SF

Asset Type

Retail

Closing

Aug 8, 2022

AI

Hildreth Real Estate Advisors (HREA) has acquired a retail property located at 1864 Deer Pk Ave. in Deer Park, Long Island. The property was purchased off-market directly from the seller, the Breines Family Trust. The transaction took place on 08/09/2022 for a sale price of $2,600,000. The property spans a total of 7,350 square feet, resulting in a price per square foot of $353.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $2,600,000
  • Address: 1864 Deer Pk Ave., Deer Park, Long Island
  • Market: Deer Park, Long Island

The buyers, Hildreth Real Estate Advisors, were represented by David Shorenstein, Jason Breitstone, Max Padway, and Yair Sarraf. The sellers, the Breines Family Trust, worked directly with the buyer to complete the off-market transaction. HREA encourages property owners in the NY area to reach out if they have any properties for sale or if they would like to explore off-market investment opportunities.

Players

David Shorenstein

Hildreth Real Estate Advisors

Buyer

$187.3M

vol

60 deals

Buyer

Breines Family

Trust

Seller

$2.6M

vol

2 deals

Seller

Deer Park 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

6.10%

Cash-on-Cash

-1.74%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93