Updated Dec 19, 2023
Ajm Group Realty Acquires Multifamily Property In Boston For $2M
541 Massachusetts Ave, Boston, MA 02118, USA
$2,200,000
Building Size
—
Asset Type
—
Closing
May 28, 2020
About this deal
AI
The multifamily property located at 577 Massachusetts Ave in Boston, MA has been sold for $2,000,000. The property spans across 5,500 square feet, resulting in a price per square foot of $364. The transaction took place on November 30, 2022, and the sale was facilitated by Benjamin Mandelbraut from Ajm Group Realty, Inc. representing the buyer, and Kevin Benzinger from Boston Realty Advisors representing the seller.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,000,000
- Address: 577 Massachusetts Ave, Boston, MA
- Square Footage: 5,500
- Price per Square Foot: $364
- Buyer's Representative: Benjamin Mandelbraut - Ajm Group Realty, Inc.
- Seller's Representative: Kevin Benzinger - Boston Realty Advisors
- Transaction Date: November 30, 2022
Kevin Benzinger from Boston Realty Advisors represented the seller in this transaction, while Benjamin Mandelbraut from Ajm Group Realty, Inc. acted as the buyer's representative. The sale of this multifamily property at 577 Massachusetts Ave demonstrates the activity in the Boston, MA market for such assets.
Players
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Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.21%
Cash-on-Cash
-2.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93