Updated Oct 28, 2024
90 Sutton Street LLC Acquires Mixed-Use Property In Reading, MA For $14.75M
475 Main St, Reading, Massachusetts, USA
$14,750,000
$344/SF
Building Size
42,791 SF
Asset Type
Mixed-use
Closing
Jun 28, 2020
About this deal
AI
475 Main St, a mixed-use property located in Reading, MA, was recently sold in a transaction facilitated by Cushman & Wakefield. The sale took place on June 28, 2021, with BM Ventures LLC as the seller and 90 Sutton Street LLC as the buyer.
Summary of transaction details
- Property Type: Mixed-use
- Sale Price: $14,750,000
- Units: 31
- Price per Unit (PPU): $475,806
- Market: Reading, MA
The deal was successfully negotiated by the team of brokers from Cushman & Wakefield, including Jonathan Bryant, Chris Sower, John Flaherty, Bruce Lusa, and Kevin Jones. Their expertise and efforts played a crucial role in facilitating the transaction.
This successful sale of 475 Main St emphasizes the demand for mixed-use properties in Reading, MA. The property's attractive features, combined with its prime location, contributed to its market value and resulted in a sale price of $14,750,000.
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
1.08%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93