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Center Court

Steven Mendelsohn Acquires Retail Property In Center Moriches For $4.425M As Buyer's Rep Michael Murphy
SOLDRetail

Steven Mendelsohn Acquires Retail Property In Center Moriches For $4.425M As Buyer's Rep Michael Murphy

Center Court

$4,425,000

$196/SF

Building Size

22,500 SF

Asset Type

Retail

Closing

Sep 3, 2025

AI

The asset involved in the transaction is a retail property located at 11-32 Center Ct in Center Moriches, NY. The sale price was $4,425,000, covering 22,500 square feet, resulting in a price per square foot of $196.

Summary of transaction details:

The transaction involved key individuals such as the buyer Steven Mendelsohn and sellers Jason Breitstone and David Shorenstein, who are associated with Hildreth Real Estate Advisors. The broker Michael Murphy played a crucial role in facilitating the deal through Douglas Elliman.

Players

Michael Murphy

Douglas Elliman

Broker

$94.4M

vol

23 deals

Broker
David Shorenstein

David Shorenstein

Hildreth Real Estate Advisors

Seller

$187.3M

vol

60 deals

Seller

Center Moriches Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.58%

Cash-on-Cash

-1.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93