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631 Lincoln Street

Fareed Salameh Purchases Office Building From Houssam Alkhoury For $2.1 Million In Worcester
SOLDOffice

Fareed Salameh Purchases Office Building From Houssam Alkhoury For $2.1 Million In Worcester

631 Lincoln Street

$2,100,000

$221/SF

Building Size

9,500 SF

Asset Type

Office

Closing

Mar 25, 2025

AI

The asset involved in this transaction is an office property located at 631 Lincoln Street, Worcester, MA. The property was sold for a total price of $2,100,000, covering a space of 9,500 square feet, which results in a price per square foot of $221.

Summary of transaction details:

The transaction featured key individuals including the buyer, Fareed Salameh, and the seller, Houssam Alkhoury. The seller was represented in this deal by the brokerage duo, James Keefe and Nishan Papazian, from Greater Boston Commercial Properties.

Players

James Keefe

Greater Boston Commercial Properties

Broker

$42.9M

vol

16 deals

Broker

Worcester 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

7.55%

Cash-on-Cash

-2.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93