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44 West Street

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

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

James Keogh

NAI Global

Broker

$45.9M

vol

8 deals

Broker

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