Updated Jul 17, 2026
Alex Finerman Of Plumbrook Capital Partners Acquires Multifamily Property In Boston For $27M
77 Park Drive & 81 Park Drive
$27,000,000
$750/SF
Building Size
36,000 SF
Asset Type
MultiFamily
Closing
Jul 17, 2026
About this deal
AI
The multifamily property at 77-81 Park Drive, located in Boston, MA, has been acquired for a total of $27 million. The property spans an area of 36,000 square feet and consists of 54 units, equating to a price per square foot of $750 and a price per unit of $500,000. This transaction took place in Boston's Fenway neighborhood.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $27,000,000
- Address: 77-81 Park Drive
- Market: Boston, MA
- Square Footage: 36,000
- Price Per Square Foot: $750
- Units: 54
- Price Per Unit: $500,000
Alex Finerman of Plumbrook Capital Partners acted as the buyer representative in this transaction, which generated an initial annualized yield above 6% for the acquisition of the 54-unit multifamily property.
Park 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
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93