Carlyle Partners Acquires Multifamily Property In Harvard Heights For $2.95M

Located in Harvard Heights, the multifamily property at 2222 Cambridge Street recently changed hands in a closed transaction. The sale, facilitated by Adam Zunder and David Weinberger of an undisclosed agency, concluded on 01/02/2020. The property comprises 18 units, with a total square footage of 9,064 and was sold for a price of $2,950,000. This translates to a price per square foot of $325.46 and a price per unit of $163,888. The transaction resulted in a capitalization rate of 4.52%.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,950,000
• Square Footage: 9,064
• Price per Square Foot: $325.46
• Number of Units: 18
• Price per Unit: $163,888
• Capitalization Rate: 4.52%

The buyer in this transaction was Carlyle Partners, while RVT Capital acted as the seller. Alongside their role as brokers, Adam Zunder and David Weinberger were involved in representing the parties. The property attracted significant interest, garnering five qualified offers during the sales process.