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19 School Street

Atlantic Capital Partners Sells Vacant Retail Building In Downtown Crossing Boston For $4.05M
SOLDRetail

Atlantic Capital Partners Sells Vacant Retail Building In Downtown Crossing Boston For $4.05M

19 School Street & 21 School Street

$4,050,000

$178/SF

Building Size

22,646 SF

Asset Type

Retail

Closing

Aug 16, 2024

AI

The vacant three-story building at 19-21 School Street in Boston, MA, was sold for $4,050,000. The property has a total square footage of 11,323, resulting in a price per square foot of $358.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $4,050,000
  • Address: 19-21 School Street
  • Market: Boston, MA
  • Square Footage: 11,323
  • Price per Square Foot: $358

The transaction involved brokers from Atlantic Retail, specifically Chris Peterson, Justin Smith, Matt Ericson, and Sam Koonce. This deal was executed as Atlantic Capital Partners sold the property to a Boston-based business, facilitating the latter's expansion plans.

Players

Justin Smith

Atlantic Retail

Broker

$627.5M

vol

31 deals

Broker

Boston Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.92%

Cash-on-Cash

-1.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93