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128 Newbury Street

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

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.

Players

Daniel J. Waldman

Waldman & Associates

Broker

$61.6M

vol

13 deals

Broker

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