Updated Oct 29, 2024
Related Companies Acquires 50% Interest In Boston Office Property For $355M
17-25 Drydock Avenue, Boston, MA, USA
$355,000,000
$253/SF
Building Size
1,400,000 SF
Asset Type
Office
Closing
Dec 20, 2020
About this deal
AI
The office property located at 17-25 Drydock Avenue in Boston, MA was sold in a recent transaction. The sale took place on 12/21/2020, and the property was sold for a price of $355,000,000. The total square footage of the property is approximately 1,400,000, resulting in a price per square foot of $254. The sale involved a 50% interest in the asset.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $355,000,000
- Address: 17-25 Drydock Avenue, Boston, MA
- Market: Boston, MA
- Interest: 50%
The seller of the property was Jamestown, represented by Matt Bronfman. The buyer was Related Companies, represented by Patrick Sweeney. The deal was facilitated by the brokerage firm Newmark.
Players
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
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93