Updated Sep 9, 2024
Michael Conners Acquires Multifamily Property In Boston, MA For $1.5M
49 Thomas Park
$1,500,000
$540/SF
Building Size
2,776 SF
Asset Type
MultiFamily
Closing
Oct 25, 2022
About this deal
AI
A multifamily property located at 49 Thomas Park in Boston, MA, has been sold for a total price of $1,500,000. The property consists of three units, with a price per unit of $500,000. It spans a total square footage of 2,776, resulting in a price per square foot of $540.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $1,500,000
- Units: 3
- Price Per Unit: $500,000
- Total Square Footage: 2,776
- Price Per Square Foot: $540
- Date: 10/25/2022
- Address: 49 Thomas Park, Boston, MA
- Market: Boston, MA
The buyer of the property is Michael Conners, while the seller is Marylou Diangelis. The transaction was facilitated by Ryan Quinn and John Federico from Greater Metropolitan Real Estate, who represented both parties in the deal.
Players
Boston 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
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93