Waldman & Associates Sells 8-Acre Peabody Multifamily Site For $4M
128 Newbury Street
$4,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Jan 19, 2024
AI
Dan Waldman of Waldman Associates successfully sold eight acres of land located at 128 Newbury Street in Peabody, MA. The property was initially considered for a self-storage facility but was ultimately sold for a new multifamily development. The transaction closed on January 19, 2024.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $4,000,000
- Address: 128 Newbury Street, Peabody, MA
- Market: Peabody, MA
- Acres: 8
Dan Waldman of Waldman Associates served as the broker for this transaction. His expertise and negotiation skills played a crucial role in facilitating the sale of the property. With his guidance, the land was successfully sold for the multifamily development, showcasing his ability to identify and leverage the potential of a property.
Peabody 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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93