Updated Dec 4, 2024
Xiao Huang Acquires Multifamily Property At 72 Thornton Street In Revere For $1.74M
72 Thornton Street
$1,740,000
$279/SF
Building Size
6,237 SF
Asset Type
MultiFamily
Closing
Sep 23, 2024
About this deal
AI
The property asset involved in the transaction is a multifamily building located at 72 Thornton Street in Revere, MA. The sale was completed for a total amount of $1,740,000. The building consists of 6 units and encompasses a total square footage of 6,237. The price per unit was $290,000, while the price per square foot was $278.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,740,000
- Units: 6
- Price Per Unit: $290,000
- Square Footage: 6,237
- Price Per Square Foot: $278
- Buyer: Xiao Huang
- Seller: Alex Westra
- Buyer's Representative: May Mai - Zhensight Realty
- Seller's Representatives: Stephen Girolamo & Dennis Kelleher - Horvath & Tremblay
Key individuals involved in this deal include the buyer, Xiao Huang, and the seller, Alex Westra. The buyer was represented by May Mai from Zhensight Realty, while the seller was represented by Stephen Girolamo and Dennis Kelleher from Horvath & Tremblay, indicating the collaboration of multiple professionals in the multifamily real estate market.
Players
Revere 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
9.12%
Cash-on-Cash
-2.61%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93