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:
- Property Type: Multifamily
- Transaction Amount: $10,500,000
- Address: 1826-1840 Massachusetts Avenue
- Market: Cambridge, MA
- Square Footage: 25,277
- Price Per Square Foot: $415
- Buyer: Just A Start
- Seller: Lesley University
- Seller's Representatives: Christopher Sower, Bruce Lusa, John Flaherty, Jonathan Bryant, Kevin Jones, Julie Regan & Mary VanNatta - Cushman & Wakefield
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
Cambridge MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
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