Updated May 12, 2025
Jordan E. Slone Of Harbor Group International Acquires Multifamily Asset From Douglas C. Yearley Jr. For $182M
275 Second Avenue
$182,000,000
Units
390
Asset Type
MultiFamily
Closing
May 5, 2025
About this deal
AI
The property asset involved in the transaction is a multifamily apartment complex located at 275 Second Avenue in Needham, MA. The transaction was valued at $182 million, showcasing a sale that included a total of 390 units, resulting in a price per unit of $466,667.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $182,000,000
- Buyer: Jordan E. Slone - Harbor Group International
- Seller: Douglas C. Yearley Jr. - Toll Brothers
- Units: 390
- Price Per Unit: $466,667
This transaction marks a significant acquisition as Harbor Group International, represented by Jordan E. Slone, has added The Kendrick to its portfolio. Douglas C. Yearley Jr., representing Toll Brothers, completed the sale, contributing to notable activity in suburban Boston's real estate market.
Needham Heights 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
0.09%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93