Harbinger Development LLC Acquires Office Building In Boston, MA For $14M
13-15 Congress Street, Boston, Massachusetts 02109, United States
$14,000,000
$256/SF
Building Size
54,500 SF
Asset Type
Office
Closing
May 12, 2022
AI
Located in Boston, MA, the property at 13-15 & 19-21 Congress St has been sold in a recent transaction. The asset, an office space spanning 54,500 square feet, was purchased by Harbinger Development LLC from Hemisphere Development Group. The sale took place on 05/13/2022 for a price of $14,000,000, resulting in a price per square foot of $257.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $14,000,000
In representing the buyer, Harbinger Development LLC, Chris McMahon from Boston Realty Advisors played a key role in the transaction. Tom Robinson and Stefan Frey, both from Commonwealth Commercial Advisors, acted as representatives for the seller, Hemisphere Development Group.
Players
Boston Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93