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2326 Massachusetts Avenue

Cambridge Redevelopment Authority Acquires Office Property From Steve Scaffidi In Cambridge For $1.75M
SOLDOffice

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

Andrew Mazzeo

All Star Realty, Inc.

Broker

$33.7M

vol

7 deals

Broker

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