HarborOne Bank Provides $19.6M Acquisition Financing For Boston Parking Garage
14-40 Beach Street, Boston, Massachusetts 02111, United States
$19,600,000
$131/SF
Building Size
149,000 SF
Asset Type
Other
Closing
Sep 7, 2022
AI
A parking garage located at 14-40 Beach St in Boston, MA has been involved in a recent transaction. The property spans approximately 149,000 square feet and is owned by Neighborhood Property Group.
Summary of transation details
- Property Type: Parking Garage
- Transaction Amount: $19,600,000
- Date: 09/08/2022
- Market: Boston, MA
The loan for this transaction was provided by HarborOne Bank. It is an acquisition financing loan with a five-year, fixed-rate term. The brokers involved in the deal are Greg LaBine and Amy Lousararian from JLL.
Players
Boston Other Market Snapshot
Boundary boundary · Other · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93