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City Realty Acquired 201-207 South St. From Steve Grant & Andrew Nathan For $13M
SOLD
$13,000,000
Massachusetts
See Similar DealsOffice144,000 SF
Sold 06/27/2024
SOLD
City Realty Acquired 201-207 South St. From Steve Grant & Andrew Nathan For $13M
201 South Street & 207 South Street
See Similar DealsOffice144,000 SF
Sold 06/27/2024
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$90
Total Square Footage:144,000 SF
Transaction Type:Sale
201-207 South Street in Boston's Leather District was acquired by City Realty for $13 million from an MC Real Estate Partners affiliate. The property spans 72,000 square feet, resulting in a price per square foot of $181.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $13,000,000
- Buyer: City Realty
- Seller: Steve Grant & Andrew Nathan - MC Real Estate Partners
- Address: 201-207 South Street
- Market: Boston, MA
Andrew Nathan and Steve Grant represented MC Real Estate Partners in the sale of 201-207 South Street to City Realty. The property was previously purchased by an MC Real Estate Partners affiliate in 2016 for $27.5 million.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$693,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$46,186.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$61,626.63
Annual Debt Service$739,519.59
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