Cambridge Redevelopment Authority Acquires Office Property From Steve Scaffidi In Cambridge For $1.75M
SOLD
$1,750,000
Massachusetts
See Similar DealsOffice4,000 SF
Sold 08/19/2024
SOLD
Cambridge Redevelopment Authority Acquires Office Property From Steve Scaffidi In Cambridge For $1.75M
2326 Massachusetts Avenue
See Similar DealsOffice4,000 SF
Sold 08/19/2024
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$437
Total Square Footage:4,000 SF
Transaction Type:Sale
The property at 2326 Massachusetts Avenue is an office asset that was sold for $1,750,000. The total square footage of the property is 4,000, which results in a price per square foot of $437. This transaction took place in the Cambridge, MA market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $1,750,000
- Address: 2326 Massachusetts Avenue
- Market: Cambridge, MA
- Square Footage: 4,000
- Price per Square Foot: $437
- Buyer: Cambridge Redevelopment Authority
- Seller: Steve Scaffidi
- Buyer's Representative: Ryan Healy - Cushman & Wakefield
- Seller's Representative: Andrew Mazzeo - All Star Realty, Inc.
The individuals involved in this transaction include Ryan Healy representing the buyer, Cambridge Redevelopment Authority, and Andrew Mazzeo representing the seller, Steve Scaffidi. The transaction highlights the collaboration between Cushman & Wakefield and All Star Realty, Inc. in facilitating this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$93,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,217.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,295.89
Annual Debt Service$99,550.71
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