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
Boston 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
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93