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159 Wood Street

Arrowpoint Properties Acquires Multifamily Property In Lowell, MA For $7.3M
SOLDMultiFamily

Arrowpoint Properties Acquires Multifamily Property In Lowell, MA For $7.3M

159 Wood Street

$7,300,000

$183/SF

Building Size

39,755 SF

Asset Type

MultiFamily

Closing

Jan 15, 2021

AI

The multifamily property located at 151-159 Wood Street in Lowell, MA has been sold for $7,300,000. The transaction took place on January 15, 2021. The property consists of 51 units, with a price per unit of $143,137.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $7,300,000
  • Address: 151-159 Wood Street, Lowell, MA
  • Market: Lowell, MA
  • Buyer: Arrowpoint Properties - David Lamattina & Jay Goldberg
  • Seller: N/A
  • Brokers: Northeast Private Client Group

The buyer of the property is Arrowpoint Properties, represented by David Lamattina and Jay Goldberg. The transaction was facilitated by Northeast Private Client Group.

Players

Jay Goldberg

Arrowpoint Properties

Buyer

$87.1M

vol

13 deals

Buyer

Lowell 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

2.17%

Cash-on-Cash

-0.62%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93