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Baystate Savings Bank Acquires Office Asset From Hampton Properties For $3.15M In Worcester

Property Image
SOLD
$3,150,000

Massachusetts

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Office18,270 SF
Sold 08/15/2024
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Property Image
SOLD

Baystate Savings Bank Acquires Office Asset From Hampton Properties For $3.15M In Worcester

44 West Street

See Similar Deals
Office18,270 SF
Sold 08/15/2024
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Summary

MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$172
Total Square Footage:18,270 SF
Transaction Type:Sale

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

James Keogh
8 deals$45.9M volume(774) 239-5151
BROKER

Alexis Brissette
NAI Global
3 deals$11.4M volume(508) 868-6182
BROKER

Details

SOLD
IMAGE: James Keogh & Alexis Brissette DATE: 08/15/2024 ADDRESS: 44 West Street MARKET: Worcester, MA ASSET TYPE: Office BUYER: Baystate Savings Bank SELLER: Hampton Properties BROKERS: James Keogh & Alexis Brissette (@LexBrissette) - NAI Glickman Kovago & Jacobs (@NAI.GKJ) SALE PRICE: $3,150,000 SF: 18,270 ~ PPSF: $172

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$168,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$11,191.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,932.61
Annual Debt Service$179,191.28