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500 Broadway

Updated Jun 18, 2025

Bob Faith Of Greystar Acquires Multifamily Asset In Malden For $112.5M From The Green Cities Co
SOLDMultiFamily

Bob Faith Of Greystar Acquires Multifamily Asset In Malden For $112.5M From The Green Cities Co

500 Broadway

$112,500,000

Units

295

Asset Type

MultiFamily

Closing

Jun 17, 2025

About this deal

AI

The asset involved in this transaction is the Avana Cliffside apartment complex located at 500 Broadway, Malden, MA. The property consists of 295 multifamily units and was acquired for a total price of $112,500,000, translating to approximately $381,356 per unit.

Summary of transaction details:

This transaction was facilitated by the involvement of Bob Faith representing Greystar, who completed the acquisition from the sellers, Molly Bordonaro, Brent Gaulke, and Kelly Saito of The Green Cities Co. The deal marks a significant acquisition in the Malden market.

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$112,500,000

MultiFamily

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Players

Bob Faith

Greystar

Buyer

$3.2B

vol

41 deals

Buyer
Greystar
GreystarBuyer
Molly Bordonaro

Molly Bordonaro

Green Cities Co.

Seller

$240.1M

vol

3 deals

Seller

Malden MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $381.4K per unit across 295 units on a published $112.5M (2025).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.14%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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