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54 Main Street

Christian Lipp Acquires Retail Property In East Hampton For $2.7M
SOLDRetail

Christian Lipp Acquires Retail Property In East Hampton For $2.7M

54 Main Street

$2,700,000

$2,777/SF

Building Size

972 SF

Asset Type

Retail

Closing

Nov 20, 2023

AI

Located at 54 Main Street in East Hampton, this retail property was recently sold in a closed transaction. The property spans 972 square feet and was sold at a price of $2,700,000, resulting in a price per square foot of $2,778. The sale was facilitated by Jeremey Tahari of Tahari Capital, who represented the seller. The buyer, Christian Lipp, was represented by Scott Strough of Compass.

Summary of transaction details:

  • Property Type: Retail
  • Sale Price: $2,700,000
  • Square Footage: 972
  • Price per Square Foot: $2,778
  • Address: 54 Main Street, East Hampton
  • Market: East Hampton

Jordan Sutton, Daniel Abbondandolo, and Victor Little from Cushman & Wakefield played a role in this transaction as the seller's representatives. For any further inquiries or potential investment opportunities, reach out to Cushman & Wakefield:

Jordan Sutton – Director, Capital Markets
Email: [email protected]
Direct: (212) 589 5101

Daniel Abbondandolo – Executive Director, Capital Markets
Email: [email protected]
Direct: (631) 425 1232

Players

Jordan Sutton

JGS Realty GRP LLC

Broker

$246.4M

vol

33 deals

Broker
Jeremey Tahari

Jeremey Tahari

Tahari Capital

Seller

$59.5M

vol

16 deals

Seller

East Hampton 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

5.88%

Cash-on-Cash

-1.68%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93