Updated Oct 28, 2024
Gi Ets Fort Point I LLC Acquires Office Building In Boston, MA For $74.6M
61 Melcher Street, Boston, MA, USA
$74,600,000
$678/SF
Building Size
110,000 SF
Asset Type
Office
Closing
Aug 30, 2021
About this deal
AI
Located at 51-61 Melcher St in Boston, MA, this office property was recently sold in a closed transaction on August 31, 2021. The asset spans across 110,000 square feet and was sold for a total price of $74,600,000, resulting in a price per square foot of $678. The property consists of 3 units, making the price per unit approximately $24,866,667.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $74,600,000
- Units: 3
- Price Per Unit: $24,866,667
- Square Footage: 110,000
- Price Per Square Foot: $678
The buyer of the property is Gi Ets Fort Point I Llc, while the seller is Bos Office 2 Llc. Their representatives were not specified in the provided information.
Players
Boston 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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93