Legacy Real Estate Venture Acquires Office Building In Newton, MA For $4.05M From Seller Wingate
SOLD
$4,050,000
+ 1
Massachusetts
See Similar DealsOffice31,291 SF
Sold 06/14/2022
SOLD
Legacy Real Estate Venture Acquires Office Building In Newton, MA For $4.05M From Seller Wingate
189 Wells Avenue, Newton, Massachusetts 02459, United States
See Similar DealsOffice31,291 SF
Sold 06/14/2022
+ 1
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$129
Total Square Footage:31,291 SF
Transaction Type:Sale
The office building located at 189 Wells Ave in Newton, MA has been sold in a transaction. The property spans a total of 31,291 square feet and is classified as an office asset. The sale took place on 06/14/2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $4,050,000
- Address: 189 Wells Ave, Newton, MA
- Market: Newton, MA
The buyer of the office building is Legacy Real Estate Venture. On the other hand, Wingate acted as the seller in this transaction. The deal was facilitated by a group of brokers from Newmark, namely Robert Griffin, Joseph Alvarado, George Demoulas, and Casey Valente.
With a price per square foot (PPSF) of $129, this sale demonstrates the value of this office asset in the market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$216,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,388.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,199.07
Annual Debt Service$230,388.79
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