Brickpoint Properties Acquires Multifamily Asset From Mary Lynn Sully For $8.25 Million In Lynn MA
Washington Street
$8,250,000
$221/SF
Building Size
37,250 SF
Asset Type
MultiFamily
Closing
May 14, 2025
AI
The property asset involved in the transaction is a MultiFamily building located at 204 & 208 Washington Street in Lynn, MA. The sale price for the property was $8,250,000, featuring a total of 35 units. The total square footage of the property is 37,250, which results in a price per unit of $235,714 and a price per square foot of $221.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $8,250,000
- Units: 35
- Square Footage: 37,250
- Price Per Unit: $235,714
- Price Per Square Foot: $221
- Buyer: Brickpoint Properties
- Seller: Mary Lynn Sully
- Brokers: Ryan Taylor & Brayden Haney - Fortune Realty
- Date of Transaction: 5/15/2025
The key individuals involved in the deal include the buyer, Brickpoint Properties, and the seller, Mary Lynn Sully. The transaction was facilitated by brokers Ryan Taylor and Brayden Haney, representing Fortune Realty, ensuring a secure process for both the buyer and seller throughout the transaction.
Players
Lynn 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
1.92%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93