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815 Somerville Avenue

SOLDOffice

KS Partners Acquires Office Building At 815 Somerville Avenue In Cambridge, MA From Lesley University For $12M

815 Somerville Avenue

$12,000,000

$409/SF

Building Size

29,284 SF

Asset Type

Office

Closing

Sep 29, 2022

AI

Located at 815 Somerville Avenue in Cambridge, MA, this office property was recently sold in a closed transaction. The property spans 29,284 square feet and was sold for a price of $12,000,000, resulting in a per square foot price of $410. The transaction took place on September 29, 2022.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $12,000,000
  • Square Footage: 29,284
  • Price per Square Foot: $410
  • Address: 815 Somerville Avenue, Cambridge, MA
  • Market: Cambridge, MA
  • Buyer: KS Partners
  • Seller: Lesley University
  • Brokers: Chris Sower, Bruce Lusa, John Flaherty, Jon Bryant, and Kevin Jones - Cushman & Wakefield

The buyer, KS Partners, acquired the property from the seller, Lesley University. The deal was facilitated by brokers Chris Sower, Bruce Lusa, John Flaherty, Jon Bryant, and Kevin Jones from Cushman & Wakefield. Their expertise and negotiation skills played a crucial role in closing the transaction successfully.

Players

Bruce Lusa

Cushman & Wakefield

Broker

$899.9M

vol

62 deals

Broker
KP
KS PartnersBuyer
LU
Lesley UniversitySeller

Cambridge 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

1.32%

Cash-on-Cash

-0.38%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93