George Katis Acquires Multifamily Property At 57 M Street South Boston For $2.3M
SOLD
Massachusetts
See Similar DealsMultiFamily6,989 SF
Sold
SOLD
George Katis Acquires Multifamily Property At 57 M Street South Boston For $2.3M
57 M Street
See Similar DealsMultiFamily6,989 SF
Sold
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$329
Total Square Footage:6989 SF
Transaction Type:Sale
The property asset involved in this transaction is a multifamily building located at 57 M Street in South Boston, MA. It was sold for $2,300,000, encompassing a total square footage of 6,989, translating to a price per square foot of $329.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,300,000
- Address: 57 M Street
- Market: South Boston, MA
- Square Footage: 6,989
- Price Per Square Foot: $329
- Buyer: George Katis
- Seller: Brendan McNamara
- Brokers: Ryan Quinn & John Federico - Grove Property Group
This transaction was facilitated by brokers Ryan Quinn and John Federico, who represent Grove Property Group. The buyer of the property is George Katis, while the seller is Brendan McNamara.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$122,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,171.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,903.17
Annual Debt Service$130,838.08
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