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52 Church Street

UNITE HERE Local 26 Acquires Office Building In Boston's Historic Bay Village For $5.9M
SOLDOffice

UNITE HERE Local 26 Acquires Office Building In Boston's Historic Bay Village For $5.9M

52 Church Street

$5,900,000

$453/SF

Building Size

13,000 SF

Asset Type

Office

Closing

Oct 11, 2023

AI

A 13,000-square-foot, two-story office building located at 52 Church Street in Boston's Historic Bay Village neighborhood has been sold for $5.9 million. The property was acquired by UNITE HERE Local 26.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $5,900,000
  • Square Footage: 13,000
  • Price per Square Foot: $454
  • Address: 52 Church Street, Boston, MA
  • Market: Boston, MA

Freudenheim Partners represented both the buyer and seller in this transaction. The buyer, UNITE HERE Local 26, acquired the office building from the seller, 52 Church Street Realty, LLC. The deal was brokered by Ellen Fantini Cullinan and Leigh Freudenheim, both of Freudenheim Partners.

Players

Leigh Freudenheim

Freudenheim Partners

Broker

$39.1M

vol

6 deals

Broker

Calais 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

2.69%

Cash-on-Cash

-0.77%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93