Updated Dec 20, 2023
The Schochet Companies And Jonathan Rose Companies Acquire 200-Unit Apartment In Medford For $83.5M
99 Riverside Ave, Medford, MA 02155, USA
$83,500,000
$429/SF
Building Size
194,250 SF
Asset Type
MultiFamily
Closing
Jun 18, 2020
About this deal
AI
The property involved in this transaction is an apartment located at 99 Riverside Avenue in Medford. The sale of this apartment was finalized on June 19, 2020.
Summary of transaction details
- Property Type: Apartment
- Sale Price: $83,500,000
- Units: 200
- Price Per Unit (PPU): $417,500
The buyer in this transaction is The Schochet Companies, represented by Jay R. Schochet, along with the Jonathan Rose Companies, represented by Nathan Taft. It is worth noting that this is the second collaboration between Schochet and the Jonathan Rose Companies, as they previously partnered in 2017 to acquire Glen Meadow Apartments.
Players
Medford 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
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93