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40 Central Street

Taymil Partners Acquires 40 Central Street Office Building From Eastern Bank For $1.589M
SOLDOffice

Taymil Partners Acquires 40 Central Street Office Building From Eastern Bank For $1.589M

40 Central Street

$1,589,000

$882/SF

Building Size

1,800 SF

Asset Type

Office

Closing

Feb 14, 2025

AI

40 Central Street is an office asset located in Wellesley, MA, that spans 1,800 square feet and has been sold for $1,589,000. The property is currently leased to Douglas Elliman, providing a stable income stream for its owner.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $1,589,000
  • Square Footage: 1,800 SF
  • Price Per Square Foot: $883
  • Address: 40 Central Street
  • Market: Wellesley, MA
  • Buyer: Steven Astrove - Taymil Partners
  • Seller: Eastern Bank
  • Brokers: Brendan Coan & Richard Pilla - Paramount Partners

Brendan Coan and Richard Pilla from Paramount Partners represented the seller, Eastern Bank, in this transaction while facilitating the deal for the buyer, Steven Astrove of Taymil Partners based in Framingham.

Players

Richard Pilla

Broker

$6.9M

vol

3 deals

Broker

Wellesley 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

9.98%

Cash-on-Cash

-2.85%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93