Hildreth Real Estate Advisors Acquires Patchogue Retail Property For $7.5M
350 East Main Street
$7,500,000
$274/SF
Building Size
27,335 SF
Asset Type
Retail
Closing
Jan 31, 2023
About this deal
AI
The retail property located at 350 E Main Street in Patchogue, NY has been sold in a closed transaction. The property spans 27,335 square feet and was sold for a price of $7,500,000, resulting in a price per square foot of $274. The transaction took place in Long Island.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7,500,000
- Address: 350 E Main Street, Patchogue NY
- Market: Long Island
- Square Footage: 27,335
- Price per Square Foot: $274
The buyer of the property is Hildreth Real Estate Advisors, represented by David Shorenstein, Jason Breitstone, Max Padway, and Yair Sarraf. The seller in this transaction is the Mondello Family. Hildreth Real Estate Advisors has expressed interest in purchasing additional properties and can be contacted at [email protected] for similar opportunities.
Players
Patchogue 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
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93