Updated Dec 13, 2024
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:
- Property Type: Multifamily
- Transaction Amount: $3,900,000
- Units: 16
- Price Per Unit: $243,750
- Square Footage: 17,688
- Price Per Square Foot: $220
- Buyer: Toffazzal Hossain
- Seller: Eric Doroski
- Buyer's Representative: Zahidul Islam - Cameron Prestige
- Seller's Representative: Stephen Girolamo - Horvath & Tremblay
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
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
4.07%
Cash-on-Cash
-1.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93