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Fisher Corporate Realty Acquires Office Building In Needham, MA For $2.55M

Property Image
SOLD
$2,550,000
Jordan Sneider
Jeremy Freid
+ 3

Massachusetts

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MultiFamily
Sold 10/12/2023
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Property Image
SOLD

Fisher Corporate Realty Acquires Office Building In Needham, MA For $2.55M

87 Crescent Road

See Similar Deals
MultiFamily
Sold 10/12/2023
Jordan Sneider
Jeremy Freid
+ 3
Contact now

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Sale

The office property located at 87 Crescent Road in Needham, MA has been sold. The property spans 8,010 square feet and was sold at a price of $2,550,000, resulting in a price per square foot of $318. The transaction took place on October 12, 2023.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $2,550,000
  • Address: 87 Crescent Road, Needham, MA
  • Square Footage: 8,010
  • Price per Square Foot: $318

The buyer in this transaction was Fisher Corporate Realty, represented by Tim Fisher. The seller, on the other hand, was Drack Realty, represented by Joel Zimmerman. The buyer's representative was Jordan Sneider from 128 CRE, while the seller was represented by Adam Meixner, Jeremy Freid, David Linehan, Meghan Huebner, and Tyler Capecci, all from 128 CRE.

Players

Adam Meixner
19 deals$150M volume(617) 304-6611
BROKER

Jeremy Freid
128 CRE
19 deals$150M volume(617) 959-1319
BROKER

Jordan Sneider
13 deals$129.6M volume
BROKER

Tyler Capecci
128 CRE
19 deals$150M volume(781) 640-5858
BROKER

Meghan Huebner
128 CRE
12 deals$68.1M volume(617) 916-1028
BROKER

David Linehan
128 CRE
8 deals$49.2M volume(781) 267-8700
BROKER

Details

SOLD
IMAGE: Adam Meixner, Jeremy Freid, David Linehan, Jordan Sneider, Meghan Huebner & Tyler Capecci DATE: 10/12/2023 ADDRESS: 87 Crescent Road MARKET: Needham, MA ASSET TYPE: Office BUYER: Fisher Corporate Realty - Tim Fisher SELLER: Drack Realty - Joel Zimmerman BUYER'S REP: Jordan Sneider (@JSneids) - 128 CRE SELLER'S REP: Adam Meixner (@AdamMeixner), Jeremy Freid (@JeremyAFreid), David Linehan, Meghan Huebner (@TheWanderingRabbit) & Tyler Capecci (@TCapech) - 128 CRE (@128CRE) SALE PRICE: $2,550,000 SF: 8,010 ~ PPSF: $318

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$136,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,059.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,088.30
Annual Debt Service$145,059.61