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
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