Edgartown Multifamily Property Sold For $6.67M With Broker Wendy Harman Of Compass
11 Cummings Way
$6,665,000
$1,443/SF
Building Size
4,617 SF
Asset Type
MultiFamily
Closing
Sep 16, 2024
AI
A multifamily property was sold for $6,665,000 located at 11 Cummings Way, Edgartown, MA. The asset encompasses 4,617 square feet and includes 6 bedrooms and 7 baths, offering views of Edgartown Harbor and Lighthouse. The architectural design was executed by Patrick Ahearn, and notable features include elegant interiors, multiple decks, a detached Carriage House, along with a restored Land Rover Defender valued at $150,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,665,000
- Address: 11 Cummings Way
- Market: Edgartown, MA
- Square Footage: 4,617
- Price per Square Foot: $1,444
- Broker: Wendy Harman - Compass
The deal was facilitated by Wendy Harman, representing the transaction through Compass, bringing expertise in real estate to ensure a smooth closing of this property sale.
Players
Edgartown 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
2.38%
Cash-on-Cash
-0.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93