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

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SOLD
$1,600,000

Wisconsin

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Retail7,005 SF
Sold 09/11/2019
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SOLD

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

142 N Franklin St, Madison, WI 53703, USA

See Similar Deals
Retail7,005 SF
Sold 09/11/2019
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Summary

WISCONSIN
Asset Type:Retail
Price Per Square Foot:$228
Total Square Footage:7,005 SF
Transaction Type:Sale

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
3 deals$11.5M volume
BROKER

David Shorenstein
Hildreth Real Estate Advisors
60 deals$187.3M volume
BUYER

Jason Breitstone
Hildreth Real Estate Advisors
35 deals$130.8M volume
BUYER

Details

SOLD
IMAGE: Anthony Ciafardoni and David Shorenstein DATE: 09/11/2019 ADDRESS: 142 N Franklin Street MARKET: Hempstead, Long Island ASSET TYPE: Retail SELLER: 142 N. Franklin Street, LLC – Samuel Glass BUYER: David Shorestein, Jason Breitstone – Hildreth Real Estate Advisors BROKERS: Silber […] ASKING PRICE: $2,000,000 SALE PRICE: $1,600,000 SF: 7,005 PPSF: $228 UNITS: 8 PPU: $200,000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$85,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,684.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,584.82
Annual Debt Service$91,017.80