Updated Feb 5, 2025
L3 Capital Secures $56M Construction Financing For Retail And Office Property In Boston, MA
149 Newbury Street, Boston, Massachusetts 02116, United States
$56,000,000
$1,287/SF
Building Size
43,500 SF
Asset Type
Office
Closing
Feb 6, 2022
About this deal
AI
The property involved in this closed transaction is a retail and office space located at 149 Newbury St in Boston, MA. The property has a total square footage of 43,500.
Summary of transaction details
- Property Type: Retail & Office
- Transaction Amount: $56,000,000
- Address: 149 Newbury St, Boston, MA
- Lender: Bank of New England & Needham Bank
- Landlord: L3 Capital
- Brokers: Jonathan Schneider, Michael Morretta, Patrick Nugent & Bryan Sparkes - JLL
The loan for this transaction was provided as construction financing. The lenders involved in this deal were Bank of New England and Needham Bank.
On the Map
$56,000,000
$1,287/SF
Office
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Players
Boston Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93