Updated Oct 28, 2024
Neighborhood Dev Inc Acquires Package Deal In Chelsea, MA For $13.2M
33 Suffolk Street, Chelsea, Massachusetts 02150, United States
$13,247,412
$2,243/SF
Building Size
5,904 SF
Asset Type
—
Closing
Dec 12, 2021
About this deal
AI
Neighborhood Dev Inc has purchased a package deal of properties in Chelsea, MA. The properties included in the deal are located at the following addresses: 33 Suffolk St, 79 Shawmut St, 77 Shawmut St, 68 Shawmut St, 70 Shawmut St, 52 Shurtleff St, 18 Watts St, 110 Chestnut St, 112 Chestnut St, 133 Shawmut St, 48-50 Chester Ave, 38 Bellingham St, 212 Poplar St, 214 Poplar St, 12 6th St, 47 Washington Ave, 30 Grove St, and 36 Grove St. The total square footage of the properties is 5,904, with an average price per square foot of $2,243.
Summary of transaction details
- Property Type: Package Deal
- Transaction Amount: $13,247,412
- Buyer: Neighborhood Dev Inc
- Seller: Chelsea Homes I Lp P
Neighborhood Dev Inc is the buyer in this transaction, while Chelsea Homes I Lp P is the seller. The deal closed on December 13, 2021. The market where the properties are located is Chelsea, MA.
Players
Chelsea CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.20%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93