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23 Tileston Street

Erica Rommell Purchases Multifamily Asset From George Warshaw For $2.3 Million In Boston
SOLDMultiFamily

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.

Players

Giancarlo Tiberi

Core Property Group

Broker

$95.1M

vol

24 deals

Broker

Boston 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

6.90%

Cash-on-Cash

-1.97%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93