Updated Oct 29, 2024
Centerboard, Inc Acquires Multifamily Property In Lynn For $3M
5-7 Chase Street, Lynn, MA, USA
$3,000,000
$202/SF
Building Size
14,815 SF
Asset Type
MultiFamily
Closing
Feb 27, 2020
About this deal
AI
The multifamily property located at 5-7 Chase Street in Lynn was sold on February 28, 2020. The property spans 14,815 square feet and was sold for a total price of $3,000,000, resulting in a price per square foot of $202.49. The seller of the property was the Luis F. Pereira Family Trust & Maria G. Pereira Family Trust, while the buyer was Centerboard, Inc, represented by Mark DeJoie. The brokerage involved in the transaction was Marcus & Millichap, with John Craig representing the buyer.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,000,000
- Address: 5-7 Chase Street, Lynn
- Square Footage: 14,815
- Price per Square Foot: $202.49
- Seller: Luis F. Pereira Family Trust & Maria G. Pereira Family Trust
- Buyer: Centerboard, Inc - Mark DeJoie
- Broker: John Craig - Marcus & Millichap
The sale of the property was facilitated by John Craig of Marcus & Millichap, serving as the broker for the buyer, Centerboard, Inc. This transaction highlights the involvement of key individuals and companies in the deal, contributing to its successful completion.
On the Map
$3,000,000
$202/SF
MultiFamily
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Players
Lynn 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
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93