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Crest City Capital Acquires Development Site In Boston, MA For $1.52M

Property Image
SOLD
$1,520,000

Massachusetts

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Development Site
Sold 12/07/2022
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Property Image
SOLD

Crest City Capital Acquires Development Site In Boston, MA For $1.52M

10 Geneva Street

See Similar Deals
Development Site
Sold 12/07/2022
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Summary

MASSACHUSETTS
Asset Type:Development Site
Transaction Type:Sale

A development site located at 10 Geneva Street in Boston, MA has been sold for a total price of $1,520,000. The buyer of the property is Crest City Capital, while the seller is Yebba, Manager. The deal was facilitated by Collin Bray from Century 21, who represented the buyer, and Nico Longo, who acted on behalf of the seller.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $1,520,000
  • Address: 10 Geneva Street, Boston, MA
  • Market: Boston, MA
  • Note: Permitted land site for 7 condos and 7 parking spaces

This transaction involved the purchase of a development site with the potential to accommodate 7 condominium units and 7 parking spaces. The property is situated at 10 Geneva Street in Boston, MA. The buyer, Crest City Capital, was represented by Collin Bray from Century 21, while Nico Longo acted as the seller's representative.

Players

Collin Bray
9 deals$26.6M volume
BROKER

Nicoletta (Nico) Longo
Century 21
4 deals$10.4M volume(617) 797-5043
BROKER

BUYER

Details

SOLD
IMAGE: Collin Bray & Nico Longo DATE: 12/07/2022 ADDRESS: 10 Geneva Street MARKET: Boston, MA ASSET TYPE: Development Site BUYER: Crest City Capital (@Crestcitycapital) SELLER: Yebba, Manager BUYER'S REP: Collin Bray (@CollinBray) - Century 21 SELLER'S REP: Nico Longo (@Nicojlongo) - (@realty.boston) SALE PRICE: $1,520,000 NOTE FROM BROKERS: Permitted land site for 7 condos and 7 parking spaces.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,400.23
Cash-on-Cash Return-1.27%
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