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Cambridge Housing Authority Purchases Multifamily Asset From Lesley University For $8.1M

Property Image
SOLD
$8,100,000
Julie Regan
Kevin Jones
+ 4

Massachusetts

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MultiFamily12,300 SF
Sold 06/28/2024
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Property Image
SOLD

Cambridge Housing Authority Purchases Multifamily Asset From Lesley University For $8.1M

16-18 Wendell Street

See Similar Deals
MultiFamily12,300 SF
Sold 06/28/2024
Julie Regan
Kevin Jones
+ 4
Contact now

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$658
Total Square Footage:12,300 SF
Transaction Type:Sale

The multifamily property located at 16-18 Wendell Street in Cambridge, MA, has been sold for a total price of $8,100,000. The asset comprises 24 units, offering approximately 12,300 square feet, resulting in a price per unit of $337,500 and a price per square foot of $659.

Summary of transaction details:

The transaction involved key representatives from Cushman & Wakefield, specifically Christopher Sower, Bruce Lusa, Jonathan Bryant, John Flaherty, Kevin Jones, Mary VanNatta, and Julie Regan, who facilitated the process on behalf of both parties involved in the sale.

Players

Bruce Lusa
62 deals$899.9M volume(617) 448-6308
BROKER

John Flaherty
JLL
56 deals$797.1M volume(617) 997-1557
BROKER

Jon Bryant
JLL
57 deals$804.6M volume(508) 505-0832
BROKER

Christopher Sower
Cushman & Wakefield
79 deals$1B volume
BROKER

Kevin Jones
Cushman & Wakefield
47 deals$736.3M volume
BROKER

Julie Regan
Cushman & Wakefield
42 deals$491M volume
BROKER

Mary VanNatta
Cushman & Wakefield
42 deals$491M volume
BROKER

Details

SOLD
IMAGE: Christopher Sower, Bruce Lusa, Jonathan Bryant, John Flaherty, Kevin Jones, Mary VanNatta & Julie Regan DATE: 06/28/2024 ADDRESS: 16-18 Wendell Street MARKET: Cambridge, MA ASSET TYPE: Multifamily BUYER: Cambridge Housing Authority SELLER: Lesley University BROKERS: Christopher Sower (@CSower1), Bruce Lusa, Jonathan Bryant (@Jay_Bry1__), John Flaherty (@J_Flaherty5), Kevin Jones (@KmJones004), Mary VanNatta & Julie Regan - Cushman & Wakefield (@CushWake) SALE PRICE: $8,100,000 UNITS: 24 ~ PPU: $337,500 SF: 12,300 ~ PPSF: $659

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$28,777.59
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