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33-41 West Street

Kendall Capital President Acquires Office Buildings In Boston For $4.1M
SOLDOffice

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.

Players

Nick Stone

Bluestone Lane

Broker

$4.1M

vol

3 deals

Broker

Nick Stone

Seller

$4.1M

vol

3 deals

Seller

Boston 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

3.87%

Cash-on-Cash

-1.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93