Kanden Realty & Development Acquires Ttoren Flats Multifamily Property In Allston For $21M
SOLD
$21,000,000
+ 4
Massachusetts
See Similar DealsMultiFamily40,000 SF
Sold 12/20/2024
SOLD
Kanden Realty & Development Acquires Ttoren Flats Multifamily Property In Allston For $21M
44 North Beacon Street
See Similar DealsMultiFamily40,000 SF
Sold 12/20/2024
+ 4
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$525
Total Square Footage:40,000 SF
Transaction Type:Sale
The property involved in this transaction is Ttoren Flats located at 44 North Beacon Street in Allston, MA. This multifamily asset consists of 30 units and was sold for $21,000,000, resulting in a price per unit of $700,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $21,000,000
- Units: 30
- Price Per Unit: $700,000
- Buyer: Kanden Realty & Development
- Seller: Boston Real Estate Collaborative
- Seller's Representatives: Christopher Sower, Jonathan Bryant, Bruce Lusa, John Flaherty, Kevin Jones, Mary VanNatta & Julie Regan - Cushman & Wakefield
This transaction involved a team of representatives from Cushman & Wakefield, who acted on behalf of the seller, Boston Real Estate Collaborative, ensuring a coordinated approach to the sale involving multiple stakeholders in the real estate community.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,120,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$74,608.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$99,550.71
Annual Debt Service$1,194,608.56
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