Updated Oct 29, 2024
The Neighborhood Developers Acquires Multifamily Property In Chelsea For $8.5M
181 Chestnut Street, Chelsea, Massachusetts, USA
$8,500,000
$375/SF
Building Size
22,648 SF
Asset Type
MultiFamily
Closing
Dec 22, 2019
About this deal
AI
The multifamily property located at 181 Chestnut Street in Chelsea, MA was sold on December 23, 2019. The property has a total area of 22,648 square feet and was sold for a price of $8,500,000. The sale price per square foot was $375. The transaction involved the seller, Gerry Snierson, and the buyer, The Neighborhood Developers.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $8,500,000
- Date: 12/23/2019
- Address: 181 Chestnut Street, Chelsea, MA
- Market: Suffolk County
The sale of this multifamily property was facilitated by the representation of Bradford Carlson, Drew Kirkland, James Casey, and Francis-Saenz. They played a key role in the transaction as the respective representatives of the seller and the buyer.
Players
Chelsea 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
1.87%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93