Quaker Lane And Alcion Ventures Acquire Mixed-use Property In Boston For $24M
SOLD
$24,000,000
Massachusetts
See Similar DealsMixed-use60,000 SF
Sold 08/27/2021
SOLD
Quaker Lane And Alcion Ventures Acquire Mixed-use Property In Boston For $24M
110 Canal St, Boston, Massachusetts, USA
See Similar DealsMixed-use60,000 SF
Sold 08/27/2021
Summary
MASSACHUSETTS
Asset Type:Mixed-use
Price Per Square Foot:$400
Total Square Footage:60,000 SF
Transaction Type:Sale
Quaker Lane, Carlos Febres-Mazzei, Alcion Ventures, and Eugene DelFavero have completed the sale of a mixed-use property located at 110 Canal St in Boston, MA. The property spans approximately 60,000 square feet and was sold for $24,000,000, resulting in a price per square foot of $400.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $24,000,000
- Address: 110 Canal St, Boston, MA
- Market: Boston, MA
- Buyer: Quaker Lane - Carlos Febres-Mazzei & Alcion Ventures - Eugene DelFavero
- Broker: CBRE
The buyer's representatives involved in the transaction were Quaker Lane and Alcion Ventures, represented by Carlos Febres-Mazzei and Eugene DelFavero, respectively. The deal was facilitated by the broker CBRE.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,279,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$85,266.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$113,772.24
Annual Debt Service$1,365,266.93
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