Updated Oct 29, 2024
NewMeadow Development Sells Mixed-Use Property In Reading Station For $27.5M
Reading, 35 Lincoln St, Reading, MA 01867, USA
$27,500,000
$458/SF
Building Size
60,000 SF
Asset Type
Mixed-use
Closing
Mar 8, 2020
About this deal
AI
A mixed-use property located at 35 Lincoln Street in Reading Station has been sold for a price of $27,500,000. The property spans across 60,000 square feet, resulting in a price per square foot of $458. The transaction involved a total of 68 units, with an average price per unit of $404,411.
Summary of Transaction Details
- Property Type: Mixed-use
- Transaction Amount: $27,500,000
- Address: 35 Lincoln Street - Reading Station
- Market: Reading
- Total Square Footage: 60,000
- Price per Square Foot: $458
- Total Units: 68
- Price per Unit: $404,411
The property was sold by NewMeadow Development, represented by Ken Chase and Matthew Zuker. The transaction was facilitated by brokers Christopher Sower, Bruce Lusa, Jonathan Bryant, and John Flaherty.
Players
Reading 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
0.58%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93