Updated Oct 28, 2024
Groma Acquires Multifamily & Office Properties In Boston For $41.5M
31 New Chardon Street, Boston, Massachusetts 02114, United States
$41,500,000
Building Size
—
Asset Type
Office
Closing
Aug 28, 2022
About this deal
AI
Needham Bank has provided a loan of $41,500,000 for the property located at 31 New Chardon Street, 1536-1542 Tremont Street, and 19 Perrin Street in Boston, MA. The property is a multifamily and office asset. The loan was secured by Groma, represented by Seth Priebatsch, and the lender's representative was Joseph P. Campanelli.
Summary of transaction details:
- Property Type: Multifamily & Office
- Transaction Amount: $41,500,000
- Lender: Needham Bank - Joseph P. Campanelli
- Landlord: Groma - Seth Priebatsch
The loan provided by Needham Bank, with Joseph P. Campanelli as the representative, has facilitated the transaction for the multifamily and office property at 31 New Chardon Street, 1536-1542 Tremont Street, and 19 Perrin Street in Boston, MA. The property was secured by Groma, represented by Seth Priebatsch. This loan will support the ongoing development and operations of the property.
On the Map
$41,500,000
Office
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93