Updated Oct 29, 2024
Harbinger Development Acquires Mixed-use Property In Boston For $8.5M
125 Tremont Street, Boston, Massachusetts, USA
$8,500,000
$531/SF
Building Size
16,000 SF
Asset Type
Mixed-use
Closing
Apr 1, 2021
About this deal
AI
The mixed-use property located at 125 Tremont in Boston, MA was recently sold in a transaction. The sale took place on 04/02/2021, with the property being purchased for a price of $8,500,000. The property spans across 16,000 square feet, resulting in a price per square foot of $531. The transaction involved the seller, The Grossman Company, and the buyer, Harbinger Development.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $8,500,000
- Date: 04/02/2021
- Address: 125 Tremont, Boston, MA
- Market: Boston, MA
- Seller: The Grossman Company
- Buyer: Harbinger Development
- Brokers: Chris Sower, Bruce Lusa, Jon Bryant, John Flaherty, & Kevin Jones - Cushman & Wakefield
- Square Footage: 16,000
- Price per Square Foot: $531
The transaction was facilitated with the help of brokers Chris Sower, Bruce Lusa, Jon Bryant, John Flaherty, and Kevin Jones from Cushman & Wakefield. The involvement of these individuals and the companies they represent played a significant role in the successful completion of the deal.
Players
Boston Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.87%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93