Updated Oct 29, 2024
Joseph Boccelli Sr. Acquires Development Site In Revere, MA For $2.1M
257 Washington Avenue, Revere, Massachusetts, USA
$2,055,000
$82/SF
Building Size
24,823 SF
Asset Type
Development Site
Closing
Jan 20, 2021
About this deal
AI
The development site located at 257 Washington Avenue in Revere, MA has been sold for a total price of $2,055,000. The property spans an area of 24,823 square feet, resulting in a price per square foot of $83. The transaction took place on January 21, 2021.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,055,000
- Square Footage: 24,823
- Price per Square Foot: $83
- Transaction Date: January 21, 2021
- Seller: DCM Realty LLC
- Buyer: Joseph Boccelli Sr.
- Brokers: Drew Kirkland & Francis Saenz – Northeast Private Client Group
The sale of this development site was facilitated by the brokers Drew Kirkland and Francis Saenz, representing the Northeast Private Client Group. They played a crucial role in connecting the seller, DCM Realty LLC, with the buyer, Joseph Boccelli Sr. The successful transaction highlights the efforts of these key individuals and companies involved in the deal.
Players
Revere 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
7.72%
Cash-on-Cash
-2.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93