Cambridge Redevelopment Authority Acquires Office Property From Steve Scaffidi In Cambridge For $1.75M
2326 Massachusetts Avenue
$1,750,000
$437/SF
Building Size
4,000 SF
Asset Type
Office
Closing
Aug 19, 2024
AI
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.
Players
Cambridge 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
9.06%
Cash-on-Cash
-2.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93