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New Balance Acquires Development Site From Stephen A. Rosetta In Brighton For $35 Million
SOLD
$35,000,000
Massachusetts
See Similar DealsDevelopment Site
Sold 10/28/2025
SOLD
New Balance Acquires Development Site From Stephen A. Rosetta In Brighton For $35 Million
155 North Beacon Street
See Similar DealsDevelopment Site
Sold 10/28/2025
Summary
MASSACHUSETTS
Asset Type:Development Site
Transaction Type:Sale
A development site located at 155 North Beacon Street in Brighton, MA, has been sold for $35 million. The asset spans three acres and was once intended for a 409,000-square-foot lab project. The site currently remains vacant amid an oversupply situation in Boston's lab space market.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $35,000,000
- Buyer: New Balance
- Seller: Stephen A. Rosetta - IQHQ
- Building Size (BSF): 409,000
- Price per Building Square Foot (PPBSF): $86
- Date of Transaction: 10/28/2025
This transaction involved New Balance's development arm purchasing the site from Stephen A. Rosetta, who represents IQHQ, a life sciences developer. The intended lab project known as “4 Life” for this parcel has not materialized, contributing to the current state of vacancy.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,866,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$124,347.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$165,917.86
Annual Debt Service$1,991,014.27
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