Updated Oct 28, 2024
The Neighborhood Developers, Inc. Acquires Development Site In Chelsea For $4.3M
170 Cottage Street, Chelsea, Massachusetts, USA
$4,300,000
$86/SF
Building Size
49,658 SF
Asset Type
Development Site
Closing
Jun 18, 2020
About this deal
AI
A development site located at 170 Cottage Street in Chelsea, MA has been sold for $4,300,000. The property spans 84,700 square feet and has a price per buildable square foot (PPBSF) of $51. The transaction took place on June 18, 2021.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $4,300,000
- Address: 170 Cottage Street, Chelsea, MA
- Market: Chelsea, MA
- BSF: 84,700 square feet
- PPBSF: $51
The seller of the property was Greg Antonelli, while the buyer was The Neighborhood Developers, Inc. The deal was facilitated by brokers Bruce Lusa, Chris Sower, Jon Bryant, John Flaherty, and Kevin Jones.
On the Map
$4,300,000
$86/SF
Development Site
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Players
Chelsea Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.69%
Cash-on-Cash
-1.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93