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22 White Street

Contempo Builders Acquires Development Site On White Street In Cambridge For $1.45M
SOLDDevelopment Site

Contempo Builders Acquires Development Site On White Street In Cambridge For $1.45M

22 White Street

$1,450,000

$467/SF

Building Size

3,100 SF

Asset Type

Development Site

Closing

Oct 14, 2022

AI

An development site located at 22 White Street in Cambridge, MA has been sold in a recent transaction. The property was purchased by Contempo Builders at a sale price of $1,450,000. The development site has a building square footage of 6,000, resulting in a price per building square footage of $242. The total land square footage is 3,100, with a price per square footage of $468.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $1,450,000
  • Address: 22 White Street, Cambridge, MA
  • Market: Cambridge, MA
  • Buyer: Contempo Builders
  • Seller: Beverly Lee
  • Brokers: Ryan Taylor & Anthony Coppola - Coldwell Banker
  • Building Square Footage: 6,000
  • Price per Building Square Footage: $242
  • Land Square Footage: 3,100
  • Price per Square Footage: $468

The transaction was facilitated by brokers Ryan Taylor and Anthony Coppola from Coldwell Banker. They represented both the buyer, Contempo Builders, and the seller, Beverly Lee.

Players

Ryan Taylor

Fortune Realty

Broker

$160.2M

vol

41 deals

Broker

Cambridge 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

10.94%

Cash-on-Cash

-3.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93