Horvath & Tremblay Represents Buyer In $2.5M Hotel Sale In Rockport, MA
17 Pleasant Street
$2,500,000
$500/SF
Building Size
5,000 SF
Asset Type
Hotel
Closing
Mar 30, 2023
AI
A hotel located at 17 Pleasant Street in Rockport, MA has been sold for $2,500,000. The property spans 5,000 square feet, resulting in a price per square foot of $500. The transaction took place on March 30, 2023.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $2,500,000
- Address: 17 Pleasant Street, Rockport, MA
- Market: Rockport, MA
- Seller: Roger C. Norris
- Buyer's Representative: Stephen Girolamo - Horvath & Tremblay
- Seller's Representative: Ann Olivo - J. Barrett & Company
Stephen Girolamo from Horvath & Tremblay represented the buyer in this transaction, while Ann Olivo from J. Barrett & Company served as the seller's representative.
Players
Market Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93