Updated Dec 4, 2024
Nantucket Land Bank Purchases Multifamily Asset From The Huffman Family For $26 Million
41 Jefferson Avenue
$26,000,000
$635/SF
Building Size
40,946 SF
Asset Type
MultiFamily
Closing
Nov 13, 2024
About this deal
AI
The asset involved in this transaction is a multifamily property located at 41 Jefferson Avenue in Nantucket, MA, with a sale price of $26,000,000. The total square footage of the property measures 40,946, resulting in a price per square foot of $634.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $26,000,000
- Address: 41 Jefferson Avenue
- Market: Nantucket, MA
- Square Footage: 40,946
- Price per Square Foot: $634
- Buyer: Nantucket Land Bank
- Seller: The Huffman Family
- Broker: Allison Mazer - Compass
The transaction involved Nantucket Land Bank as the buyer purchasing the property from The Huffman Family, with representation by broker Allison Mazer from Compass, facilitating the deal.
Players
Nantucket 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
0.61%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93