Elan Sassoon Acquires Development Site At 35 Cedar Street In Somerville For $4,335,000
SOLD
$4,335,000
Massachusetts
See Similar DealsDevelopment Site
Sold 04/03/2026
SOLD
Elan Sassoon Acquires Development Site At 35 Cedar Street In Somerville For $4,335,000
35 Cedar Street
See Similar DealsDevelopment Site
Sold 04/03/2026
Summary
MASSACHUSETTS
Asset Type:Development Site
Transaction Type:Sale
The asset involved in this transaction is a development site located at 35 Cedar Street in Somerville, MA. The sale price was $4,335,000, with a building square footage of 16,000. The price per building square foot was calculated at $270.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $4,335,000
- Address: 35 Cedar Street
- Market: Somerville, MA
- Building Square Footage: 16,000
- Price per Building Square Foot: $270
- Buyer: Elan Sassoon
- Seller: Julian Lewis
- Broker Representatives: Ryan Taylor & Brayden Haney - Fortune Realty
The transaction involved Elan Sassoon as the buyer, acquiring the development site from seller Julian Lewis. The deal was facilitated by brokers Ryan Taylor and Brayden Haney from Fortune Realty, representing the interests of the parties involved in this transaction.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$231,199.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,401.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,550.11
Annual Debt Service$246,601.34
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