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Connor Schoen Of Breaktime Acquires Office Space In Downtown Crossing For $6.3M
SOLD
$6,300,000
Massachusetts
See Similar DealsOffice30,000 SF
Sold 12/10/2024
SOLD
Connor Schoen Of Breaktime Acquires Office Space In Downtown Crossing For $6.3M
63 Franklin Street
See Similar DealsOffice30,000 SF
Sold 12/10/2024
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$210
Total Square Footage:30,000 SF
Transaction Type:Sale
The property involved in this transaction is an office space located at 63 Franklin Street in Boston, MA. It encompasses 30,000 square feet and was sold for a total price of $6,300,000, equating to a price per square foot of $210.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $6,300,000
- Address: 63 Franklin Street
- Market: Boston, MA
- Square Footage: 30,000
- Price Per Square Foot: $210
- Buyer: Tony Shu
- Buyer's Organization: Breaktime
Breaktime, which focuses on addressing young adult homelessness in Massachusetts, will utilize the acquired space as a Hub for Solving Young Adult Homelessness. Renovations are set to begin in January 2025 to enhance its programs.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$336,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,382.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,865.21
Annual Debt Service$358,382.57
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