Eugene F. Delfavero Acquires Office Building In Boston For $24M
SOLD
$24,000,000
Massachusetts
See Similar DealsOffice56,840 SF
Sold 08/06/2021
SOLD
Eugene F. Delfavero Acquires Office Building In Boston For $24M
112 Canal St, Boston, Massachusetts, USA
See Similar DealsOffice56,840 SF
Sold 08/06/2021
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$422
Total Square Footage:56,840 SF
Transaction Type:Sale
A four-unit office property located at 112-118 Canal St in Boston, MA has been sold in a recent transaction. The property spans 56,840 square feet and was sold for a total price of $24,000,000, resulting in a price per unit of $6,000,000 and a price per square foot of $422. The sale took place on 08/06/2021.
Summary of transaction details
- Property Type: Office
- Sale Price: $24,000,000
- Units: 4
- Price Per Unit: $6,000,000
- Square Footage: 56,840
- Price Per Square Foot: $422
- Address: 112-118 Canal St, Boston, MA
- Market: Boston, MA
The buyer of the property is Eugene F. Delfavero, while the seller is Joseph D. Slesar.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,279,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$85,266.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$113,772.24
Annual Debt Service$1,365,266.93
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