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Waldman & Associates Sells 8-Acre Peabody Multifamily Site For $4M

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SOLD
$4,000,000

Massachusetts

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MultiFamily
Sold 01/19/2024
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Property Image
SOLD

Waldman & Associates Sells 8-Acre Peabody Multifamily Site For $4M

128 Newbury Street

See Similar Deals
MultiFamily
Sold 01/19/2024
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Sale

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.

Players

Daniel J. Waldman
13 deals$61.6M volume(781) 492-1586
BROKER

Details

SOLD
IMAGE: Dan Waldman DATE: 01/19/2024 ADDRESS: 128 Newbury Street MARKET: Peabody, MA ASSET TYPE: Multifamily ~ ACRES: 8 BROKER: Dan Waldman - Waldman Associates SALE PRICE: $4,000,000 NOTE: Dan Waldman of Waldman Associates successfully sold eight acres for a new multifamily development after initially considering the site for a self-storage facility.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
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