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Akelius Acquires 54-Unit Multifamily In Boston For $21.9M

Property Image
SOLD
$21,900,000
Kevin Benzinger
Jason Weissman
+ 1

Massachusetts

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MultiFamily10,000 SF
Sold 06/01/2020
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Property Image
SOLD

Akelius Acquires 54-Unit Multifamily In Boston For $21.9M

49 Worthington Street, Boston, MA, USA

See Similar Deals
MultiFamily10,000 SF
Sold 06/01/2020
Kevin Benzinger
Jason Weissman
+ 1
Contact now

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$2,190
Total Square Footage:10,000 SF
Transaction Type:Sale

Located at 49 Worthington Street in Boston, MA, this recently closed multifamily property transaction has generated significant attention. The property was sold by Coppola Management, while the buyer was Akelius. The deal was facilitated by Boston Realty Advisors, with the brokers involved being Kevin Benzinger, Jason Weissman, Andrew Herald, and Nick Herz. The sale price for this transaction amounted to an impressive $21,900,000.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $21,900,000
  • Address: 49 Worthington Street, Boston, MA
  • Market: Boston, MA
  • Units: 54
  • Price per Unit (PPU): $405,556

With a total of 54 units, this multifamily property commanded a price per unit of $405,556. The successful sale was made possible by the efforts of Kevin Benzinger, Jason Weissman, Andrew Herald, and Nick Herz of Boston Realty Advisors, who worked tirelessly to ensure a smooth transaction. The involvement of these key individuals and the notable companies they represent further underscore the significance of this deal.

Players

Jason Weissman
16 deals$340.2M volume(617) 850-9608
BROKER

Kevin Benzinger
Boston Realty Advisors
38 deals$478.4M volume
BROKER

Andrew Herald
Cushman & Wakefield
16 deals$346M volume(617) 850-9619
BROKER

Nicholas (Nick) Herz
Boston Realty Advisors
21 deals$431.5M volume
BROKER

BUYER

Details

SOLD
IMAGE: Kevin Benzinger, Nicholas Herz, Andrew Herald, & Jason Weissman⁠ DATE: 06/01/2020⁠ ADDRESS: 49 Worthington Street⁠ MARKET: Boston, MA⁠ ASSET TYPE: Multifamily⁠ ⁠ SELLER: Coppola Management⁠ BUYER: Akelius⁠ BROKERS: Kevin Benzinger, Jason Weissman, Andrew Herald, & Nick Herz - Boston Realty Advisors⁠ ⁠ SALE PRICE: $21,900,000⁠ UNITS: 54 ~ PPU: $405,556

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

$1,168,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$77,806.07
Cash-on-Cash Return-1.27%
Monthly Debt Service$103,817.17
Annual Debt Service$1,245,806.07