Nicholas Daher Of Broad Sound Real Estate Acquires Multifamily Property In Revere For $2.045M
220 Broadway
$2,045,000
$152/SF
Building Size
13,455 SF
Asset Type
MultiFamily
Closing
Jul 29, 2024
AI
The transaction involves a multifamily asset located at 220 Broadway in Revere, MA. The property consists of 10 units, spanning a total area of 13,455 square feet. It was sold for $2,045,000, resulting in a price per unit of $204,500 and a price per square foot of $151.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,045,000
- Units: 10
- Square Footage: 13,455
- Price Per Unit: $204,500
- Price Per Square Foot: $151
- Buyer: Nicholas Daher
- Seller: Frank Imbrescia
- Buyer's Representative: Nicholas Daher - Broad Sound Real Estate
This transaction features Nicholas Daher acting as both the buyer and the buyer's representative, indicating a direct involvement in the process. Frank Imbrescia is identified as the seller in this deal. A notable remark from the broker highlighted is, "No risk it, no biscuit."
Revere 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
7.76%
Cash-on-Cash
-2.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93