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13-15 Congress Street, Bost...

Harbinger Development LLC Acquires Office Building In Boston, MA For $14M
SOLDOffice

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

Christopher McMahon

Boston Realty Advisors

Broker

$19.4M

vol

2 deals

Broker

Boston Office Market Snapshot

Boundary boundary · Office · Sale transactions

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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