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Giancarlo Tiberi Of Core Property Group Facilitates $2.7M Sale In Boston MultiFamily

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SOLD
$2,700,000

Massachusetts

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MultiFamily3,990 SF
Sold 05/01/2024
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SOLD

Giancarlo Tiberi Of Core Property Group Facilitates $2.7M Sale In Boston MultiFamily

43 Sheafe Street

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MultiFamily3,990 SF
Sold 05/01/2024
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$676
Total Square Footage:3,990 SF
Transaction Type:Sale

The property located at 43 Sheafe Street in Boston, MA, is a 4-unit multifamily asset spanning 3,990 square feet. The sale price for this property was $2,700,000, reflecting a unit price of $675,000 and a price per square foot of $677. The asset boasts great window exposure, overlooking the Prince Street Park in the North End.

Summary of transation details:

  • Property Type: MultiFamily
  • Transaction Amount: $2,700,000
  • Units: 4
  • Price per Unit: $675,000
  • Square Footage: 3,990
  • Price per Square Foot: $677
  • Address: 43 Sheafe Street, Boston, MA
  • Market: Boston, MA

Giancarlo Tiberi, representing Core Property Group, facilitated the transaction of this generational asset. Core Property Group, a market leader in multifamily assets in Greater Boston and surrounding areas, oversees a $200 million asset under management. With 20 years of experience, Giancarlo Tiberi and the firm offer full management services, a leasing team, and a development division, providing expert guidance to clients across market cycles.

Players

Giancarlo Tiberi
24 deals$95.1M volume(617) 909-9191
BROKER

Details

SOLD
IMAGE: Giancarlo Tiberi DATE: 05/01/2024 ADDRESS: 43 Sheafe Street MARKET: Boston, MA ASSET TYPE: MultiFamily SELLER: Josephine Tinnirello BUYER'S REP: Giancarlo Tiberi - Core Property Group (@CorePropertyGroup) SALE PRICE: $2,700,000 UNITS: 4 ~ PPU: $675,000 SF: 3,990 ~ PPSF: $677 NOTE FROM BUYER'S REP: Giancarlo Tiberi sold this 4 unit generational asset on the corner of Sheafe Street & Snowhill street. This property has great window exposure and overlooks the prince street park in the North End. Core Property Group is a market leader in the marketing, acquisition & disposition of multi family assets in Greater Boston and surrounding areas. The firms principal, Giancarlo Tiberi, has been transacting in this space for the past 20 years. The firm currently has $200 MM AUM. Core has a full management division, a full leasing team and a development arm. Core’s experience and keen market knowledge allows them to advise their clients throughout the various market cycles.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$144,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,592.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,799.38
Annual Debt Service$153,592.53