Updated Oct 28, 2024
Dolben Acquires 222-Unit Multifamily Property In Lawrence, MA For $25M
11 Diamond St, Lawrence, Massachusetts, USA
$25,000,000
$71/SF
Building Size
348,480 SF
Asset Type
MultiFamily
Closing
Jun 8, 2020
About this deal
AI
The multifamily property located at 11 Diamond St in Lawrence, MA was recently involved in a closed transaction. The property spans over 8 acres and consists of 222 units. The transaction took place on 06/08/2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $25,000,000
- Address: 11 Diamond St, Lawrence, MA
- Market: Lawrence, MA
- Units: 222
- Acres: 8
The landlords involved in this transaction are Deane Dolben, Donald Dolben, and Andrew Dolben from Dolben. The deal was facilitated by Dirk Falardeau and Matt Purtell from KeyBank Real Estate Capital.
The loan amount for this transaction was $25,000,000, with a loan term of 10 years on an interest-only basis.
Players
Lawrence MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93