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UNITE HERE Local 26 Acquires Office Building In Boston's Historic Bay Village For $5.9M
SOLD
$5,900,000
Massachusetts
See Similar DealsOffice13,000 SF
Sold 10/11/2023
SOLD
UNITE HERE Local 26 Acquires Office Building In Boston's Historic Bay Village For $5.9M
52 Church Street
See Similar DealsOffice13,000 SF
Sold 10/11/2023
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$453
Total Square Footage:13,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$314,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,961.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,969.01
Annual Debt Service$335,628.12
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