Updated Oct 28, 2024
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
About this deal
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.
On the Map
$14,000,000
$256/SF
Office
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Players
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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