Updated Oct 29, 2024
The Davis Cos. & The Copley Group Acquire Fenway Multi Family For $28.5M
77 Park Dr, Boston, MA 02215, USA
$28,500,000
$772/SF
Building Size
36,915 SF
Asset Type
MultiFamily
Closing
Feb 19, 2020
About this deal
AI
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
Boston 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
0.56%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93