Baystate Savings Bank Acquires Office Asset From Hampton Properties For $3.15M In Worcester
44 West Street
$3,150,000
$172/SF
Building Size
18,270 SF
Asset Type
Office
Closing
Aug 15, 2024
AI
The property asset involved in this transaction is an office building located at 44 West Street in Worcester, MA. The sale price for the asset was $3,150,000, with a total square footage of 18,270, resulting in a price per square foot of $172.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $3,150,000
- Square Footage: 18,270
- Price per Square Foot: $172
- Buyer: Baystate Savings Bank
- Seller: Hampton Properties
- Brokers: James Keogh & Alexis Brissette - NAI Glickman Kovago & Jacobs
This transaction involved key individuals including James Keogh and Alexis Brissette, representing Hampton Properties. The brokers played a significant role in facilitating this deal between Baystate Savings Bank and Hampton Properties, marking a notable event in the local market.
Players
Worcester 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
5.04%
Cash-on-Cash
-1.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93