Updated Oct 28, 2024
East Boston Community Development Corporation Acquires Multifamily Portfolio In Greater East Boston For $47M
East Boston, Massachusetts, United States
$47,000,000
Units
114
Asset Type
MultiFamily
Closing
Oct 10, 2022
About this deal
AI
The East Boston Community Development Corporation has acquired a multifamily portfolio in Greater East Boston. The property, consisting of 114 units, was sold by Grossman Companies and Hodara Real Estate Group. The sale was facilitated by the brokers Kellie Coveney, Jacqueline Meagher, Madeline Joyce, and James Burr from JLL. The transaction took place on 10/11/2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $47,000,000
- Address: Multifamily Portfolio
- Market: Greater East Boston
The East Boston Community Development Corporation successfully closed the deal to acquire this multifamily portfolio. The brokers from JLL played a crucial role in facilitating the transaction between the buyer and sellers, Grossman Companies and Hodara Real Estate Group.
On the Map
$47,000,000
MultiFamily
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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
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93