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699 Boylston Street

Berklee Leases 9,271 Square Feet At 699 Boylston Street In Boston's Back Bay
LEASEDMixed-use

Berklee Leases 9,271 Square Feet At 699 Boylston Street In Boston's Back Bay

699 Boylston Street

Building Size

9,271 SF

Asset Type

Mixed-use

Closing

Oct 11, 2024

AI

The property involved in this transaction is a mixed-use asset located at 699 Boylston Street in Boston, MA. This space spans 9,271 square feet and has been leased by Berklee to develop state-of-the-art dance studios, as well as a retail concept featuring smoothies and açaí bowls. The property is situated in Boston’s Back Bay, a notable area known for its vibrancy and commercial activity.

Summary of transaction details:

In this deal, Berklee is represented by the brokers Ted Chryssicas from Newmark and Ellen Fantini Cullinan from Freudenheim Partners. This collaboration is set to transform the space to accommodate the institution's needs while introducing a new retail concept to the area.

Players

Ellen Fantini Cullinan

Freudenheim Partners

Broker

$11.8M

vol

13 deals

Broker

Boston Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93