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
Wellesley 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
9.98%
Cash-on-Cash
-2.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93