Andreas Tsitos Acquires Multifamily Property At 21 Walnut Street In Malden, MA For $2.6M

Located at 21 Walnut Street in Malden, MA, this multifamily property was recently sold in a closed transaction. The property spans 9,788 square feet and consists of 12 units. The sale price for this asset was $2,600,000, resulting in a price per square foot of $266. The asking price and sale price were both $2,600,000, indicating that the property was sold at the full asking price. With a capitalization rate of 5%, this transaction represents a solid investment opportunity.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $2,600,000
• Address: 21 Walnut Street, Malden, MA
• Market: Malden, MA
• Seller: Andrew Falkenstein
• Buyer: Andreas Tsitos
• Brokers: Raz Panossian & Ali Choucri - East Group
• Square Footage: 9,788
• Price per Square Foot: $266
• Units: 12
• Price per Unit: $216,667
• Capitalization Rate: 5%

Raz Panossian and Ali Choucri from East Group represented the buyer and seller, respectively, in this transaction. The involvement of these brokers highlights their expertise in the local market and their ability to successfully negotiate deals for their clients.