Updated Sep 5, 2024
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
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
5.54%
Cash-on-Cash
-1.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93