Tyler Savonen And Christopher Knisley Acquire Office In Scituate For $7.4M With Newmark Brokers
56 New Driftway
$7,400,000
$308/SF
Building Size
24,019 SF
Asset Type
Office
Closing
May 28, 2025
AI
The property involved in this transaction is an office asset located at 56 New Driftway in Scituate, MA. The sale price was $7,400,000, and the total square footage of the property is 24,019 square feet, resulting in a price per square foot of $308.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $7,400,000
- Address: 56 New Driftway
- Market: Scituate, MA
- Square Footage: 24,019
- Price Per Square Foot: $308
- Buyer: Tyler Savonen & Christopher Knisley - Albany Road Real Estate Partners
- Seller: Fulcrum Real Estate Partners
- Broker Representatives: Michael Greeley, Robert Griffin & Frank Nelson - Newmark
This transaction involved key players in the real estate market, with Tyler Savonen and Christopher Knisley representing Albany Road Real Estate Partners as the buyers. The sellers were Fulcrum Real Estate Partners, facilitating the sale through brokers Michael Greeley, Robert Griffin, and Frank Nelson from Newmark.
Players
Scituate Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.14%
Cash-on-Cash
-0.61%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93