Updated Dec 4, 2024
Multifamily Property In Somerville, MA Sells For $2.25M With Flow Realty, Inc's Alex Genovese
1023-1025 Broadway
$2,250,000
$637/SF
Building Size
3,527 SF
Asset Type
MultiFamily
Closing
Oct 27, 2023
About this deal
AI
A multifamily property located at 1023-1025 Broadway in Somerville, MA, has recently been sold for a price of $2,250,000. This transaction was facilitated by broker Alex Genovese ofFlow Realty, Inc. The property has a total square footage of 3,527, resulting in a price per square foot (PPSF) of $638.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,250,000
- Address: 1023-1025 Broadway, Somerville, MA
- Market: Somerville, MA
- Broker: Alex Genovese - Flow Realty, Inc
- Square Footage: 3,527
- Price per Square Foot (PPSF): $638
This successful transaction highlights the role of Alex Genovese, representing Flow Realty, Inc, in the sale of the multifamily property. With their expertise, they were able to facilitate the deal, resulting in a mutually beneficial outcome for the buyer and seller.
Players
Somerville 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
7.05%
Cash-on-Cash
-2.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93