M. J. Grappo Realty Associates Acquires Multifamily Property In Boston For $5.68M
32 Cummins Highway, Boston, Massachusetts 02131, United States
$5,680,000
$457/SF
Building Size
12,415 SF
Asset Type
MultiFamily
Closing
Apr 21, 2022
AI
Located at 32 Cummins Hwy in Boston, Massachusetts, this multifamily property was recently sold in a closed transaction. The sale was facilitated by Michael J. Grappo of M. J. Grappo Realty Associates, representing the buyer, and Chris Kostopoulos of Keller Williams Realty Chestnut Hill, representing the seller. The property spans across 12,415 square feet, with a sale price of $5,680,000, resulting in a price per square foot of $458.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $5,680,000
- Square Footage: 12,415
- Buyer's Rep: Michael J. Grappo - M. J. Grappo Realty Associates
- Seller's Rep: Chris Kostopoulos - Keller Williams Realty Chestnut Hill
This successful transaction showcases the expertise of the buyer's representative, Michael J. Grappo, and the seller's representative, Chris Kostopoulos. With their guidance, the buyer and seller were able to negotiate a mutually beneficial deal for this multifamily property in Boston, Massachusetts.
Players
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
2.79%
Cash-on-Cash
-0.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93