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505 Chatham St, Lynn, MA 01902

Updated Sep 5, 2024

Alex Kuritnik Acquires Lynn, MA Multifamily For $2.9M
SOLDMultiFamily

Alex Kuritnik Acquires Lynn, MA Multifamily For $2.9M

505 Chatham St, Lynn, MA 01902

$2,865,000

$207/SF

Building Size

13,818 SF

Asset Type

MultiFamily

Closing

Aug 8, 2023

About this deal

AI

The recent sale in Lynn, MA involved a multifamily property located at 505-509 Chat. The property consists of 12 units with a total square footage of 13,818. The sale price for this transaction was $2,865,000, resulting in a price per unit of $238,750 and a price per square foot of $207.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,865,000
  • Units: 12
  • Price per Unit: $238,750
  • Square Footage: 13,818
  • Price per Square Foot: $207
  • Address: 505-509 Chat, Lynn, MA
  • Market: Lynn, MA

The buyer, Alex Kuritnik, acquired the property from the seller, Andrew Stevens. The transaction was facilitated by the brokers, Dan Pouladian and Sara Pouladian, from Northshore Realty Advisors. It is worth mentioning that North Shore Realty Advisors Inc., represented by Dan and Sara Pouladian, acted as the exclusive agent for the seller and successfully connected the buyer through their private client network. Congratulations to all parties involved in this transaction.

Players

Dan Pouladian

Northshore Realty Advisors

Broker

$310.7M

vol

69 deals

Broker

Boston MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $207 per square foot on a published $2.9M for 13,818 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.54%

Cash-on-Cash

-1.58%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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