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175 Highland Ave Needham, M...

Azad Legacy Partners Acquires Office Building In Needham, MA For $8.5M
SOLDOffice

Azad Legacy Partners Acquires Office Building In Needham, MA For $8.5M

175 Highland Ave Needham, Ma 02494, Usa

$8,500,000

$212/SF

Building Size

40,000 SF

Asset Type

Office

Closing

Jun 1, 2023

AI

The office property located at 175 Highland Avenue in Needham, MA has been sold in a transaction. The property spans a total area of 40,000 square feet and was sold at a price of $8,500,000, resulting in a price per square foot of $213. The transaction took place on June 1, 2023.

Summary of transaction details

The sale of the property was facilitated by Tyler Capecci, Jeremy Freid, Adam Meixner, Meghan Huebner, and Jordan Sneider of 128 CRE. Their expertise and representation played a crucial role in the successful completion of the transaction.

Players

Adam Meixner

128 CRE

Broker

$150M

vol

19 deals

Broker
AL
Azad Legacy Partners, LLCBuyer

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

1.87%

Cash-on-Cash

-0.53%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93