Erica Rommell Purchases Multifamily Asset From George Warshaw For $2.3 Million In Boston
23 Tileston Street
$2,300,000
$808/SF
Building Size
2,844 SF
Asset Type
MultiFamily
Closing
Jul 19, 2024
AI
This multifamily asset located at 23 Tileston Street in Boston, MA, was sold for a transaction amount of $2,300,000. The property consists of 3 units and has a total square footage of 2,844, resulting in a price per unit of $766,667 and a price per square foot of $809.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,300,000
- Units: 3
- Square Footage: 2,844
- Price Per Unit: $766,667
- Price Per Square Foot: $809
- Buyer: Erica Rommell
- Seller: George Warshaw
- Buyer's Representative: Giancarlo Tiberi - Core Property Group
Giancarlo Tiberi facilitated the sale of this generational asset in the North End. Core Property Group, where he represents the buyer, has a significant presence in the marketing, acquisition, and disposition of multifamily assets within Greater Boston and surrounding areas. The firm manages $200 million in assets under management and has a comprehensive management and leasing division along with a development arm, enabling them to offer extensive market insights to their clients throughout various market cycles.
Boston 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
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93