facebook
Traded Co logo
Submit
Daily limit: 0/10

City Realty Group Acquires 73K SF Office Property In Boston's Leather District For $11M

Property Image
SOLD
$11,000,000

Massachusetts

See Similar Deals
Office73,000 SF
Sold 10/27/2023
the dealplayerscompscontact
Property Image
SOLD

City Realty Group Acquires 73K SF Office Property In Boston's Leather District For $11M

186 Lincoln Street

See Similar Deals
Office73,000 SF
Sold 10/27/2023
the dealplayerscompscontact
Contact now

Summary

MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$150
Total Square Footage:73,000 SF
Transaction Type:Sale

A 73,000-square-foot office property located at 186 Lincoln Street in Boston's Leather District has been sold for $11 million. The property was acquired by Fred Starikov of City Realty Group from an affiliate of Brickman. This transaction represents a significant discount from its previous sale price of $20.7 million, eight years ago.

Summary of transaction details

  • Property Type: Office
  • Sale Price: $11,000,000
  • Square Footage: 73,000
  • Price per Square Foot: $151
  • Address: 186 Lincoln Street, Boston, MA
  • Market: Boston, MA

Fred Starikov, representing City Realty Group, purchased the property from the affiliate of Brickman. The sale price of $11 million signifies a significant decrease compared to its previous sale price. This acquisition presents a great opportunity for City Realty Group in the Boston office market.

Players

Fred Starikov
Fred Starikov
12 deals$66.7M volume
BUYER

Details

SOLD
IMAGE: Fred Starikov DATE: 10/27/2023 ADDRESS: 186 Lincoln Street MARKET: Boston, MA ASSET TYPE: Office BUYER: Fred Starikov - City Realty Group (@CityRealtyBoston) SELLER: Affiliate of Brickman SALE PRICE: $11,000,000 SF: 73,000 ~ PPSF: $151 NOTE: City Realty Group acquired a 73,000-square-foot property at 186 Lincoln St. in Boston's Leather District for $11 million, marking a significant discount from its sale price eight years ago when it was purchased for $20.7 million by an affiliate of Brickman.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$586,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$39,080.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,145.61
Annual Debt Service$625,747.34