Updated Oct 29, 2024
BLVD Capital Acquires Residential Property In Springfield, MA For $76M
101 Lowell Street, Springfield, Massachusetts, USA
$76,000,000
$14,323/SF
Building Size
5,306 SF
Asset Type
Co-Op
Closing
Jul 1, 2020
About this deal
AI
The residential property located at 101 Lowell Street in Springfield, MA has been sold for a total price of $76,000,000. The sale took place on July 2, 2020, and involved a total of 612 units. The price per unit was approximately $124,183.
Summary of transaction details:
- Property Type: Residential
- Transaction Amount: $76,000,000
- Address: 101 Lowell Street
- Market: Springfield, MA
- Units: 612
- Price Per Unit (PPU): $124,183
The seller in this transaction was the Silver Street Development Corp, represented by Roger Gendron. The buyer was BLVD Capital, represented by Robert Budman. The sale was facilitated by the following brokers from CBRE: Simon Butler, Biria St. John, John McLaughlin, Jeff Kunitz, and Mike Canori.
On the Map
$76,000,000
$14,323/SF
Co-Op
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Players
Springfield Co-Op Market Snapshot
Boundary boundary · Co-Op · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93