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Stuart Silberberg & Ian Blatt Acquire Mixed-Use Asset In Norwood, MA For $24.5M
SOLD
$24,500,000
Massachusetts
See Similar DealsMixed-use155,975 SF
Sold 07/12/2024
SOLD
Stuart Silberberg & Ian Blatt Acquire Mixed-Use Asset In Norwood, MA For $24.5M
1400 Providence Hwy
See Similar DealsMixed-use155,975 SF
Sold 07/12/2024
Summary
MASSACHUSETTS
Asset Type:Mixed-use
Price Per Square Foot:$157
Total Square Footage:155,975 SF
Transaction Type:Sale
The 155,975 square-foot flex space facility located at 1400 Providence Hwy in Norwood, MA, has been sold by Jumbo Capital to Ajax Partners for $24,500,000. The price per square foot for this mixed-use property was $157.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $24,500,000
- Buyer: Stuart Silberberg & Ian Blatt - Ajax Partners
- Seller: Andrew O’Connor & Jay Hirsh - Jumbo Capital
- Address: 1400 Providence Hwy
- Market: Norwood, MA
Stuart Silberberg and Ian Blatt, representing Ajax Partners, have acquired the property from Andrew O’Connor and Jay Hirsh, who represented Jumbo Capital in this transaction.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,306,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$87,043.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$116,142.50
Annual Debt Service$1,393,709.99
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