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7 Prince Place, Newburyport...

7 Prince Place, Unit 301 Sold In Newburyport, MA For $1.65M
SOLDOffice

7 Prince Place, Unit 301 Sold In Newburyport, MA For $1.65M

7 Prince Place, Newburyport, Massachusetts 01950, United States

$1,650,000

$412,500/SF

Building Size

4 SF

Asset Type

Office

Closing

Sep 12, 2022

AI

7 Prince Place, Unit 301 in Newburyport, MA has been sold for $1,650,000. The office property spans 4,300 square feet and was purchased by 7 Prince Place LLC, represented by Tom O’Rourke. The sale was brokered by Anthony Triglione from Nordlund Associates.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $1,650,000
  • Address: 7 Prince Place, Unit 301, Newburyport, MA
  • Market: Newburyport, MA
  • Seller: 7 Prince Place LLC - Tom O’Rourke
  • Seller's Representative: Tom O’Rourke
  • Buyer's Broker: Anthony Triglione - Nordlund Associates
  • Square Footage: 4,300
  • Price per Square Foot: $384

Tom O’Rourke represented the seller, 7 Prince Place LLC, in this office property transaction in Newburyport, MA. Anthony Triglione from Nordlund Associates acted as the buyer's broker, facilitating the successful sale.

Players

Anthony Triglione

Nordlund Associates

Broker

$33.8M

vol

12 deals

Broker

Newburyport 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

9.61%

Cash-on-Cash

-2.75%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93