Updated Oct 28, 2024
Qianlong Property Management Acquires 60-Unit Multifamily In Cambridge, MA For $30.2M
375 Harvard Street, Cambridge, Massachusetts, USA
$30,200,000
$615/SF
Building Size
49,080 SF
Asset Type
MultiFamily
Closing
Nov 30, 2021
About this deal
AI
The multifamily property located at 375 Harvard Street in Cambridge, MA has been sold for a total of $30,200,000. The property consists of 60 units, with an average price per unit of $503,333. The total square footage of the property is 49,080, with an average price per square foot of $615.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $30,200,000
- Units: 60
- Price Per Unit: $503,333
- Square Footage: 49,080
- Price Per Square Foot: $615
The buyer of the property is Qianlong Property Management, while the seller is Audobon Road Associates CCSPE LLC. The deal was facilitated by Kevin Benzinger, Jason Weissman, Andrew Herald, and Nick Herz from Boston Realty Advisors.
Players
Cambridge 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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93