Coldwell Banker Acquires Office Building In Boston, MA For $19.5M
SOLD
$19,500,000
Massachusetts
See Similar DealsOffice40,000 SF
Sold 10/28/2022
SOLD
Coldwell Banker Acquires Office Building In Boston, MA For $19.5M
581 Boylston Street, Boston, Massachusetts 02116, United States
See Similar DealsOffice40,000 SF
Sold 10/28/2022
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$487
Total Square Footage:40,000 SF
Transaction Type:Sale
The office property located at 581 Boylston Street in Boston, MA has been sold for a price of $19,500,000. The transaction took place on October 28, 2022, and the property spans approximately 40,000 square feet, resulting in a price per square foot of $488. Todd Glaskin and Gregg Leppo of Coldwell Banker Commercial Realty served as the brokers in this deal.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $19,500,000
- Address: 581 Boylston Street, Boston, MA
- Market: Boston, MA
- Brokers: Todd Glaskin & Gregg Leppo - Coldwell Banker Commercial Realty
The sale of this property marks a significant transaction in the Boston office market. Todd Glaskin and Gregg Leppo, representing Coldwell Banker Commercial Realty, played an instrumental role in facilitating this deal. The office property at 581 Boylston Street offers substantial space for businesses, comprising 40,000 square feet.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,039,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$69,279.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$92,439.95
Annual Debt Service$1,109,279.38
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