City Realty Group Acquires Office Building In Quincy, MA For $18M
SOLD
$18,000,000
Massachusetts
See Similar DealsOffice132,000 SF
Sold 07/21/2022
SOLD
City Realty Group Acquires Office Building In Quincy, MA For $18M
1515 Hancock St, Quincy, Massachusetts 02169, United States
See Similar DealsOffice132,000 SF
Sold 07/21/2022
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$136
Total Square Footage:132,000 SF
Transaction Type:Sale
The office building located at 1515 Hancock Street in Quincy, MA has been sold in a recent transaction. The property spans approximately 132,000 square feet and is categorized as an office asset. The sale took place on July 21, 2022.
Summary of transaction details
- Property Type: Office
- Sale Price: $18,000,000
- Price per Square Foot: $136
- Address: 1515 Hancock Street, Quincy, MA
- Market: Quincy, MA
The buyer of the property is City Realty Group, represented by Steve Whalen and Fred Starikov. The transaction marks a significant investment in the Quincy real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$960,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$63,950.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$85,329.18
Annual Debt Service$1,023,950.20
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