Updated Oct 28, 2024
IQHQ Acquires Buckminster Hotel Corp In $42.5M Boston Hotel Sale
645 Beacon Street, Boston, MA 02215, USA
$42,500,000
$18,008/SF
Building Size
2,360 SF
Asset Type
Hotel
Closing
Nov 3, 2021
About this deal
AI
The Buckminster Hotel in Boston, Massachusetts has recently been sold for a staggering price of $42,500,000. Situated at 645 Beacon St, this hotel property has proven to be an attractive investment opportunity in the bustling Boston market.
Summary of transaction details
- Property Type: Hotel
- Sale Price: $42,500,000
- Number of Keys: 132
- Price Per Key: $321,970
IQHQ, represented by John Bonanno, emerged as the buyer of this prime hotel asset. On the other hand, the seller of the Buckminster Hotel was Buckminster Hotel Corp. This significant transaction marks a promising move for IQHQ, indicating their continued interest and investment in the Boston real estate market.
Boston 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
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93