Ryan Foley & Giancarlo Tiberi Facilitate $7.375M Multifamily Property Sale In Boston
358-366 Hanover Street
$7,375,000
$1,017/SF
Building Size
7,247 SF
Asset Type
MultiFamily
Closing
Feb 20, 2024
AI
The property located at 358-366 Hanover Street in Boston, MA, was sold for $7,375,000. This multifamily asset consists of 11 units, with a price per unit of $670,455. The total square footage of the property is 7,247, translating to a price per square foot of $1,018.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $7,375,000
- Units: 11
- Square Footage: 7,247
- Address: 358-366 Hanover Street
- Market: Boston, MA
Ryan Foley from Greater Metropolitan Real Estate and Giancarlo Tiberi from Core Property Group were the brokers involved in this transaction. They successfully facilitated the sale of 358-366 Hanover Street, which includes 9 residential units and 2 commercial spaces. The property's prime location next to the Paul Revere Mall highlights classic Boston architecture, complemented by unique and rare window lines that add a distinctive charm to the asset.
Players
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
2.15%
Cash-on-Cash
-0.61%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93