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Matt Ramey Of Concept Properties Acquires 14,000 SF Office Building In Brookline For $6.2M

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SOLD
$6,200,000

Massachusetts

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Office14,000 SF
Sold 08/15/2024
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SOLD

Matt Ramey Of Concept Properties Acquires 14,000 SF Office Building In Brookline For $6.2M

1093 Beacon Street

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Office14,000 SF
Sold 08/15/2024
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Summary

MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$442
Total Square Footage:14,000 SF
Transaction Type:Sale

This transaction involved the sale of an office building located at 1093 Beacon Street in Brookline, MA. The property spans over 14,000 square feet and was sold for $6,200,000, resulting in a price per square foot of $443.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $6,200,000
  • Address: 1093 Beacon Street
  • Market: Brookline, MA
  • Square Footage: 14,000
  • Price per Square Foot: $443
  • Buyer: Matt Ramey - Concept Properties
  • Sellers: Mark Blotner - Kinross Real Estate LLC & Lloyd Rosenthal - Greenline Realty LLC
  • Broker Representatives: Gregg Leppo & Todd Glaskin - Coldwell Banker

Todd Glaskin and Gregg Leppo from Coldwell Banker Commercial Realty facilitated the sale of the property, highlighting their role in arranging the transaction successfully.

Players

Todd Glaskin
23 deals$109.8M volume
BROKER

Gregg Leppo
Coldwell Banker
7 deals$67.4M volume
BROKER

Details

SOLD
IMAGE: Gregg Leppo, Todd Glaskin & Matt Ramey DATE: 08/15/2024 ADDRESS: 1093 Beacon Street MARKET: Brookline, MA ASSET TYPE: Office BUYER: Matt Ramey (@MattRameyIG) - Concept Properties (@ConceptPropertieBoston) SELLER: Mark Blotner - Kinross Real Estate LLC & Lloyd Rosenthal - Greenline Realty LLC BROKERS: Gregg Leppo (@GreggLeppo) & Todd Glaskin (@ToddGlaskin) - Coldwell Banker (@ColdwellBanker) SALE PRICE: $6,200,000 SF: 14,000 ~ PPSF: $443 NOTE: Todd Glaskin and Gregg Leppo of Coldwell Banker Commercial Realty arranged the $6.2 million sale of 1093 Beacon St. in Brookline, a 14,000+ square-foot office building.

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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$22,027.28
Cash-on-Cash Return-1.27%
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