The Neighborhood Developers, Inc. Acquires Development Site In Chelsea For $4.3M
SOLD
$4,300,000
+ 2
Massachusetts
See Similar DealsDevelopment Site49,658 SF
Sold 06/18/2020
SOLD
The Neighborhood Developers, Inc. Acquires Development Site In Chelsea For $4.3M
170 Cottage Street, Chelsea, Massachusetts, USA
See Similar DealsDevelopment Site49,658 SF
Sold 06/18/2020
+ 2
Summary
MASSACHUSETTS
Asset Type:Development Site
Price Per Square Foot:$86
Total Square Footage:49,658 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$229,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,277.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,384.19
Annual Debt Service$244,610.33
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