Updated May 12, 2025
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
About this deal
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:
- Property Type: Office
- Transaction Amount: $2,100,000
- Address: 631 Lincoln Street
- Market: Worcester, MA
- Square Footage: 9,500
- Price per Square Foot: $221
- Buyer: Fareed Salameh
- Seller: Houssam Alkhoury
- Seller's Representative: James Keefe & Nishan Papazian - Greater Boston Commercial Properties
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
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