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

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SOLD
$4,400,000

Massachusetts

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MultiFamily4,892 SF
Sold 05/31/2022
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Property Image
SOLD

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

71 Montgomery Street, Boston, Massachusetts 02116, United States

See Similar Deals
MultiFamily4,892 SF
Sold 05/31/2022
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$899
Total Square Footage:4,892 SF
Transaction Type:Sale

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

6 deals$22.5M volume
BROKER

Details

SOLD
IMAGE: John Neale & Todd Glaskin DATE: 05/31/2022 ADDRESS: 71 Montgomery St MARKET: Boston, MA ASSET TYPE: Multifamily BUYER'S REP: Todd Glaskin (@ToddGlaskin) - Coldwell Banker Realty - Newton (@CBRBNewton) SELLER'S REP: John Neale - Sprogis & Neale Real Estate (@SprogisAndNeale) SALE PRICE: $4,400,000 SF: 4,892 ~ PPSF: $899

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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