Hildreth Real Estate Advisors Acquires Patchogue Retail Property For $7.5M
SOLD
$7,500,000
+ 1
New York
See Similar DealsRetail27,335 SF
Sold 01/31/2023
SOLD
Hildreth Real Estate Advisors Acquires Patchogue Retail Property For $7.5M
350 East Main Street
See Similar DealsRetail27,335 SF
Sold 01/31/2023
+ 1
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$274
Total Square Footage:27,335 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$400,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$26,645.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,553.83
Annual Debt Service$426,645.92
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