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365 Appleton Street

Nicholas Spagnola And Massis Khoumjian Acquire Multifamily Asset In Holyoke For $5.236M
SOLDMultiFamily

Nicholas Spagnola And Massis Khoumjian Acquire Multifamily Asset In Holyoke For $5.236M

365 Appleton Street & 145 Essex Street

$5,236,000

$39/SF

Building Size

133,408 SF

Asset Type

MultiFamily

Closing

Oct 28, 2024

AI

The property involved in this transaction is a multifamily asset located at 365 Appleton Street and 145 Essex Street in Holyoke, MA. The sale price was $5,236,000, encompassing a total of 77 units within a square footage of 66,704. The price per unit is calculated at $68,000, while the price per square foot stands at $78.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $5,236,000
  • Units: 77
  • Square Feet: 66,704
  • Price Per Unit: $68,000
  • Price Per Square Foot: $78
  • Buyer: Nicholas Spagnola & Massis Khoumjian
  • Broker: Massis Khoumjian - Coldwell Banker
  • Market: Holyoke, MA

In this transaction, Nicholas Spagnola and Massis Khoumjian acquired the multifamily asset, with Massis Khoumjian serving as the broker representing the buyer. This deal highlights the involvement of key individuals in the multifamily property market within the Holyoke area.

Players

Massis Khoumjian

Coldwell Banker

Broker

$19.4M

vol

11 deals

Broker

Holyoke 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

3.03%

Cash-on-Cash

-0.87%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93