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581 Boylston Street, Boston...

Coldwell Banker Acquires Office Building In Boston, MA For $19.5M
SOLDOffice

Coldwell Banker Acquires Office Building In Boston, MA For $19.5M

581 Boylston Street, Boston, Massachusetts 02116, United States

$19,500,000

$487/SF

Building Size

40,000 SF

Asset Type

Office

Closing

Oct 27, 2022

AI

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.

Players

Todd Glaskin

Coldwell Banker

Broker

$109.8M

vol

23 deals

Broker

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

0.81%

Cash-on-Cash

-0.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93