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Hildreth Real Estate Advisors Acquires Mixed-Use Property In Sag Harbor, NY For $4M

3 Madison Street
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This Mixed-use property located in NY was sold for $4,000,000 almost 3 years ago.

Hildreth Real Estate Advisors (HREA) has acquired a vacant mixed-use building located at 3 Madison Street, Sag Harbor, NY, 11963. The property, situated in the Sag Harbor market of the Hamptons, spans 5,832 square feet and was sold for a sale price of $4,000,000. The asset was listed with an asking price of $5,695,000, resulting in a price per square foot of $686. The transaction took place on 05/07/2021.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $4,000,000
  • Address: 3 Madison Street, Sag Harbor, NY, 11963
  • Market: Sag Harbor, Hamptons

The buyer, Hildreth Real Estate Advisors, was represented by David Shorenstein, Jason Breitstone, Max Padway, and Yair Sarraf. On the other hand, Maximillan Eicke acted as the seller in the transaction. The deal was facilitated by brokers from Saunders & Associates and Douglas Elliman Real Estate.

It is noteworthy that HREA acquired the vacant building and successfully leased it during the contract period. The proforma cap rate for the property is 11.4%. Hildreth Real Estate Advisors is actively seeking commercial real estate deals and interested parties can reach out to them at [email protected].

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Deals
  • Location
    3 Madison Street3 Madison Street
  • Sale Price
    $4,000,000$4,000,000
    $685 PPSF$685 PPSF
  • Area
    5,832 SF5,832 SF
  • Asset Type
    Mixed-useMixed-use

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Deal Summary

SALE IMAGE: Max Padway, David Shorenstein, Yair Sarraf & Jason Breitstone DATE: 05/07/2021 ADDRESS: 3 Madison Street, Sag Harbor, NY, 11963 MARKET: Sag Harbor, Hamptons ASSET TYPE: Mixed-use BUYER: Hildreth Real Estate Advisors (@Hildreth.Advisors) - David Shorenstein (@Shoreshot1), Jason Breitstone (@JaBstone), Max Padway (@Max_Padway) & Yair Sarraf (@Yair_Sarraf, @YMSRealEstate) SELLER: Maximillan Eicke BROKERS: Saunders & Associates; Douglas Elliman Real Estate ASKING PRICE: $5,695,000 SALE PRICE: $4,000,000 SF: 5,832 ~ PPSF: $686 NOTE FROM @Hildreth.Advisors: HREA acquired a vacant building and fully leased it during contract. Proforma cap rate: 11.4%. HREA is actively seeking commercial real estate deals - please email opportunities to [email protected]

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