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71 Montgomery Street, Bosto...

Coldwell Banker Realty Acquires Multifamily Property In Boston For $4.4M
SOLDMultiFamily

Coldwell Banker Realty Acquires Multifamily Property In Boston For $4.4M

71 Montgomery Street, Boston, Massachusetts 02116, United States

$4,400,000

$899/SF

Building Size

4,892 SF

Asset Type

MultiFamily

Closing

May 30, 2022

AI

Located at 71 Montgomery St in Boston, MA, this recently closed multifamily property transaction has drawn attention in the real estate market. The property spans 4,892 square feet, offering ample space for residents. The transaction was facilitated by the buyer's representative, Todd Glaskin, from Coldwell Banker Realty - Newton, and the seller's representative, John Neale, from Sprogis & Neale Real Estate. The property was sold for a total of $4,400,000, resulting in a price per square foot of $899.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $4,400,000
  • Address: 71 Montgomery St, Boston, MA
  • Market: Boston, MA
  • Buyer's Representative: Todd Glaskin - Coldwell Banker Realty - Newton
  • Seller's Representative: John Neale - Sprogis & Neale Real Estate
  • Square Footage: 4,892
  • Price per Square Foot: $899

The involvement of Todd Glaskin from Coldwell Banker Realty - Newton and John Neale from Sprogis & Neale Real Estate played a critical role in facilitating the successful sale of this multifamily property. Their expertise and negotiation skills helped to complete the transaction at a price of $4,400,000. The sale price per square foot was determined to be $899, reflecting the value of the property in the market.

Players

John Neale

Broker

$22.5M

vol

6 deals

Broker

Boston MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.61%

Cash-on-Cash

-1.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93