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Kendall Capital President Acquires Office Buildings In Boston For $4.1M
SOLD
$4,100,000
Massachusetts
See Similar DealsOffice
Sold 10/10/2023
SOLD
Kendall Capital President Acquires Office Buildings In Boston For $4.1M
33-41 West Street
See Similar DealsOffice
Sold 10/10/2023
Summary
MASSACHUSETTS
Asset Type:Office
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$218,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,566.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,436.09
Annual Debt Service$233,233.10
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