facebook
Traded Co logo
Submit

The Neighborhood Developers Acquires Multifamily Property In Chelsea For $8.5M

Property Image
SOLD
$8,500,000

Massachusetts

See Similar Deals
MultiFamily22,648 SF
Sold 12/23/2019
the dealdetailscomps
Property Image
SOLD

The Neighborhood Developers Acquires Multifamily Property In Chelsea For $8.5M

181 Chestnut Street, Chelsea, Massachusetts, USA

See Similar Deals
MultiFamily22,648 SF
Sold 12/23/2019
the dealdetailscomps

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$375
Total Square Footage:22,648 SF
Transaction Type:Sale

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

TD
The Neighborhood Developers
BUYER

Details

SOLD
IMAGE: Bradford Carlson, Drew Kirkland, James Casey & Francis-Saenz DATE: 12/23/2019 ADDRESS: 181 Chestnut Street CITY: Chelsea, MA MARKET: Suffolk County ASSET TYPE: Multifamily SELLER: Gerry Snierson BUYER: The Neighborhood Developers SALE PRICE: $8,500,000 SF: 22,648 ~ PPSF: $375

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$453,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$30,198.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$40,294.34
Annual Debt Service$483,532.04