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526 Western Avenue

Updated Dec 13, 2024

Toffazzal Hossain Purchases Multifamily Property From Eric Doroski In Lynn Massachusetts For $3.9M
SOLDMultiFamily

Toffazzal Hossain Purchases Multifamily Property From Eric Doroski In Lynn Massachusetts For $3.9M

526 Western Avenue

$3,900,000

$220/SF

Building Size

17,688 SF

Asset Type

MultiFamily

Closing

Dec 10, 2024

About this deal

AI

The asset involved in this transaction is a multifamily property located at 526 Western Avenue, Lynn, MA. The sale price for this property was $3,900,000, comprising 16 units with a price per unit of $243,750. The total square footage of the property is 17,688, resulting in a price per square foot of $220.

Summary of transaction details:

This transaction reflects the collaborative efforts of the involved parties, notably the representatives Zahidul Islam and Stephen Girolamo facilitating the sale. The seamless operation indicates a well-coordinated exchange between the buyer and seller, emphasizing professionalism in the real estate market.

Players

Stephen Girolamo

Horvath & Tremblay

Broker

$334.5M

vol

100 deals

Broker

Lynn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $220 per square foot on a published $3.9M for 17,688 square feet (2024).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.07%

Cash-on-Cash

-1.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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