Updated Dec 19, 2023
Alexandria Real Estate Equities Inc And National Development Acquire Watertown Development Site For $32.6M
57 Coolidge Avenue, Watertown, MA, USA
$32,625,000
$12,376/SF
Building Size
2,636 SF
Asset Type
Development Site
Closing
Jul 16, 2020
About this deal
AI
A development site located at 57 Coolidge Avenue in Watertown, MA has recently been sold for a price of $32,625,000. The property was purchased by Alexandria Real Estate Equities Inc, represented by Joel S. Marcus, and National Development, represented by Ted Tye. The seller of the property was the Crowley Family.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $32,625,000
- Buyer: Alexandria Real Estate Equities Inc - Joel S. Marcus, National Development - Ted Tye
- Seller: Crowley Family
The acquisition of the development site at 57 Coolidge Avenue in Watertown, MA was led by Joel S. Marcus of Alexandria Real Estate Equities Inc and Ted Tye of National Development. These individuals played a crucial role in the successful completion of the transaction.
Players
Watertown 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
0.49%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93