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1826 Massachusetts Avenue

Just A Start Acquires Multifamily Property From Lesley University For $10.5 Million In Cambridge MA
SOLDMultiFamily

Just A Start Acquires Multifamily Property From Lesley University For $10.5 Million In Cambridge MA

1826 Massachusetts Avenue & 1840 Massachusetts Avenue

$10,500,000

$207/SF

Building Size

50,554 SF

Asset Type

MultiFamily

Closing

Nov 27, 2024

AI

The multifamily property located at 1826-1840 Massachusetts Avenue in Cambridge, MA was sold for $10,500,000. The asset encompasses a total space of 25,277 square feet, equating to a price per square foot of $415.

Summary of transaction details:

This transaction involved the buyer, Just A Start, acquiring the property from the seller, Lesley University, with various individuals from Cushman & Wakefield representing the seller throughout the negotiation and closing process.

Players

Bruce Lusa

Cushman & Wakefield

Broker

$899.9M

vol

62 deals

Broker

Cambridge 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

1.51%

Cash-on-Cash

-0.43%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93