Kendall Capital President Acquires Office Buildings In Boston For $4.1M
33-41 West Street
$4,100,000
Building Size
—
Asset Type
Office
Closing
Oct 10, 2023
AI
A pair of office buildings located at 33-41 West Street in downtown Boston has recently been sold for $4.1 million. This price represents a significant decrease from the $16 million value it held seven years ago. The asset, which consists of office space, is situated in the thriving market of Boston, MA.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $4,100,000
- Address: 33-41 West Street
- Market: Boston, MA
Mai Luo, the president of Kendall Capital, has acquired these office buildings from Bay Management Corp. The seller, Nick Stone, represented Bay Management Corp in the transaction. This deal marks a significant change in ownership for the properties, with Mai Luo now taking charge of these office buildings in downtown Boston.
Boston Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.87%
Cash-on-Cash
-1.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93