The Davis Cos. & The Copley Group Acquire Fenway Multi Family For $28.5M
SOLD
$28,500,000
+ 1
Massachusetts
See Similar DealsMultiFamily36,915 SF
Sold 02/20/2020
SOLD
The Davis Cos. & The Copley Group Acquire Fenway Multi Family For $28.5M
77 Park Dr, Boston, MA 02215, USA
See Similar DealsMultiFamily36,915 SF
Sold 02/20/2020
+ 1
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$772
Total Square Footage:36,915 SF
Transaction Type:Sale
The multi-family property located at 77-81 Park Drive in Fenway has been sold for a total price of $28,500,000. The property spans 36,915 square feet, resulting in a price per square foot of $772. This asset consists of 55 units, offering a significant investment opportunity in the Fenway market.
Summary of transaction details
- Property Type: Multi Family
- Transaction Amount: $28,500,000
- Square Footage: 36,915
- Price Per Square Foot: $772
- Units: 55
The seller for this transaction was Sidney Handler, while the buyers were The Davis Cos. and The Copley Group. Boston Realty Advisors, represented by Kevin Benzinger, Nicholas Herz, Andrew Herald, and Jason Weissman, facilitated the deal as the brokers involved.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,519,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$101,254.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$135,104.54
Annual Debt Service$1,621,254.48
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