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358-366 Hanover Street

Ryan Foley & Giancarlo Tiberi Facilitate $7.375M Multifamily Property Sale In Boston
SOLDMultiFamily

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

Giancarlo Tiberi

Core Property Group

Broker

$95.1M

vol

24 deals

Broker

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

2.15%

Cash-on-Cash

-0.61%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93