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350 East Main Street

Hildreth Real Estate Advisors Acquires Patchogue Retail Property For $7.5M
SOLDRetail

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

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

David Shorenstein

Hildreth Real Estate Advisors

Buyer

$187.3M

vol

60 deals

Buyer

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