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142 N Franklin St, Madison,...

David Shorenstein And Jason Breitstone Acquire Retail Property In Hempstead For $1.6M
SOLDRetail

David Shorenstein And Jason Breitstone Acquire Retail Property In Hempstead For $1.6M

142 N Franklin St, Madison, WI 53703, USA

$1,600,000

$228/SF

Building Size

7,005 SF

Asset Type

Retail

Closing

Sep 10, 2019

AI

The retail property located at 142 N Franklin Street in Hempstead, Long Island, has been sold in a closed transaction. The property spans 7,005 square feet and was sold for a price of $1,600,000, resulting in a price per square foot of $228. The property consists of 8 units, with a price per unit of $200,000. The transaction involved the following parties:

Summary of transaction details:

  • Property Type: Retail
  • Address: 142 N Franklin Street, Hempstead, Long Island
  • Market: Hempstead, Long Island
  • Sale Price: $1,600,000
  • Square Footage: 7,005
  • Price per Square Foot: $228
  • Units: 8
  • Price per Unit: $200,000

The seller of the property was 142 N. Franklin Street, LLC, represented by Samuel Glass. The buyers were David Shorestein and Jason Breitstone of Hildreth Real Estate Advisors. The transaction was facilitated by the brokers from Silber.

Players

Anthony Ciafardoni

Silber Investment Properties

Broker

$11.5M

vol

3 deals

Broker
David Shorenstein

David Shorenstein

Hildreth Real Estate Advisors

Buyer

$187.3M

vol

60 deals

Buyer

Madison 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

9.91%

Cash-on-Cash

-2.83%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93