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10 Connors Ave, Mansfield, ...

Corigin Real Estate Group Purchases Property At 10 Connors Ave Mansfield For $15M With Seller's Reps
SOLDMultiFamily

Corigin Real Estate Group Purchases Property At 10 Connors Ave Mansfield For $15M With Seller's Reps

10 Connors Ave, Mansfield, MA, 02048

$15,000,000

Building Size

Asset Type

MultiFamily

Closing

Nov 19, 2023

AI

The property involved in this transaction is Village at Cedar Heights, a 66-unit apartment community located at 10 Connors Ave, Mansfield, MA, 02048. The property is situated in the Mansfield market, which lies south of Boston. The sale price was $15,000,000.00, and the square footage is noted as 0.

Summary of transaction details:

The deal was brokered by Colliers International, with Bruce Lusa, Jonathan Bryant, John Flaherty, and Maggie Collins representing the seller and developer, Turner Brothers. The buyer, Corigin Real Estate Group, based in Manhattan, is expected to implement a value-add program for the property.

Players

Bruce Lusa

Cushman & Wakefield

Broker

$899.9M

vol

62 deals

Broker

Mansfield MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.06%

Cash-on-Cash

-0.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93