Elizabeth Schuster Acquires 133-Unit Multifamily Property In Dorchester For $41M With CBRE Brokers
SOLD
Massachusetts
See Similar DealsMultiFamily106,731 SF
Sold 12/18/2024
SOLD
Elizabeth Schuster Acquires 133-Unit Multifamily Property In Dorchester For $41M With CBRE Brokers
1220 Adams Street
See Similar DealsMultiFamily106,731 SF
Sold 12/18/2024
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$384
Total Square Footage:106,731 SF
Transaction Type:Sale
The multifamily asset located at 1220 Adams Street in Dorchester, MA, has been sold for $41,000,000. The property consists of 133 units, providing a price per unit of $308,270. It encompasses a total square footage of 106,731, resulting in a price per square foot of $384.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $41,000,000
- Units: 133
- Price Per Unit: $308,270
- Square Footage: 106,731
- Price Per Square Foot: $384
- Buyer: Elizabeth Schuster
- Seller: Chris Wyett & Jason Shulman
- Brokers: Simon Butler & Biria St. John - CBRE
Elizabeth Schuster acted as the buyer in this transaction, while Chris Wyett and Jason Shulman were the sellers. The deal was facilitated by brokers Simon Butler and Biria St. John of CBRE.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,186,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$145,664.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$194,360.92
Annual Debt Service$2,332,331.01
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