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.
Holyoke 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
3.03%
Cash-on-Cash
-0.87%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93