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Hildreth Real Estate Advisors Acquires Mixed-Use Property In Chelsea For $3.9M

Property Image
SOLD
$3,900,000
Ben Biberaj
David Shorenstein
+ 4

New York

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Retail3,756 SF
Sold 06/29/2020
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Property Image
SOLD

Hildreth Real Estate Advisors Acquires Mixed-Use Property In Chelsea For $3.9M

209 7th Avenue, Manhattan, New York, NY, USA

See Similar Deals
Retail3,756 SF
Sold 06/29/2020
Ben Biberaj
David Shorenstein
+ 4
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$1,038
Total Square Footage:3,756 SF
Transaction Type:Sale

A mixed-use property at 209 7th Ave in Chelsea has been sold for $3,900,000. The property spans across 3,756 square feet, resulting in a price per square foot of $1,038. It was previously listed for $5,750,000. The buyer, Hildreth Real Estate Advisors, was represented by David Shorenstein, Jason Breitstone, Max Padway, and Ethan Frank. The seller was David Restivo. The deal was facilitated by Louis Puopolo of Douglas Elliman.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $3,900,000
  • Address: 209 7th Ave
  • Market: Chelsea
  • Buyer: Hildreth Real Estate Advisors - David Shorenstein, Jason Breitstone, Max Padway, and Ethan Frank
  • Seller: David Restivo
  • Broker: Louis Puopolo - Douglas Elliman

This acquisition marks Hildreth Real Estate Advisors' third purchase in the past 50 days. For more deal opportunities, interested parties can contact Hildreth Real Estate Advisors at [email protected].

Players

Ben Biberaj
187 deals$26.2M volume(703) 434-1461
BROKER

James Famularo
Meridian Capital Group
357 deals$11.4M volume(212) 468-5960
BROKER

Louis Puopolo
Douglas Elliman
8 deals$29.5M volume(917) 374-0099
BROKER

David Shorenstein
Hildreth Real Estate Advisors
60 deals$187.3M volume
BUYER

Jason Breitstone
Hildreth Real Estate Advisors
35 deals$130.8M volume
BUYER

Max Padway
Hildreth Real Estate Advisors
23 deals$93.7M volume
BUYER

Ethan Frank
Hildreth Real Estate Advisors
7 deals$27.5M volume
BUYER

Details

SOLD
IMAGE: Max Padway, David Shorenstein, Ethan Frank & Jason Breitstone DATE: 06/29/2021 ADDRESS: 209 7th Ave. MARKET: Chelsea ASSET TYPE: Mixed-use BUYER: Hildreth Real Estate Advisors - David Shorenstein (@Shoreshot1), Jason Breitstone (@JABstone), Max Padway (@Max_Padway) & Ethan Frank (@FrankTheTank_55) SELLER: David Restivo BROKER: Louis Puopolo – @DouglasElliman ASKING PRICE: $5,750,000 SALE PRICE: $3,900,000 SF: 3,756 ~ PPSF: $1,038 NOTE FROM @Hildreth.Advisors: This is Hildreth Real Estate Advisors' 3rd acquisition in the past 50 days. Please send deals to [email protected]

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$208,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$13,855.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,487.99
Annual Debt Service$221,855.88