Updated Dec 4, 2024
Andover-based LLC Acquires Packard Humanities Institute Office Portfolio In Cambridge
9 Mount Auburn Street, 11A Mount Auburn Street & 11b Mount Auburn Street
$3,550,000
$157/SF
Building Size
7,500 SF
Asset Type
Office
Closing
May 20, 2024
About this deal
AI
The Packard Humanities Institute sold properties at 9, 11A, and 11B Mount Auburn Street in Cambridge for $3.55M. The buildings, dating back to the early 1900s, offer a total of 7,500 sq ft of office space and are situated near Harvard Square.
Summary of transation details:
- Property Type: Office
- Transaction Amount: $3,550,000
- Address: 9 Mount Auburn Street, 11A Mount Auburn Street & 11B Mount Auburn Street
- Market: Cambridge, MA
David W. Packard from the Packard Humanities Institute was the seller of the mentioned properties. The buyer, an Andover-based LLC, completed the acquisition of these office spaces near Harvard Square.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.47%
Cash-on-Cash
-1.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93