Asana Partners Acquires Property At 226 Harvard Ave Boston For $11.9 Million With Coley Cannon As Seller's Rep
226 Harvard Ave, Boston, MA, 02134
$11,900,000
$426/SF
Building Size
27,930 SF
Asset Type
Retail
Closing
Nov 19, 2023
AI
The property asset involved in the transaction is a 27,930-square-foot retail and medical office building located at 226 Harvard Ave, Boston, MA, in the Allston market. The sale price of the property was $11,900,000.00, and it was reported to be 94 percent leased at the time of the transaction.
Summary of transaction details:
- Property Type: Retail and Medical Office Building
- Transaction Amount: $11,900,000.00
- Address: 226 Harvard Ave, Boston, MA, 02134
- Market: Allston
- Leased Tenants: Urban Outfitters, Steward Medical Group, Unleashed by Petco
- Seller's Representative: Coley Cannon-Newmark
- Buyer: Asana Partners
The transaction involved a broker team from Newmark, consisting of Robert Griffin, Geoffrey Millerd, Frank Nelson, Michael Greeley, Jonathan Martin, Paul Penman, Mathew Adler, Christopher Huesgen, and Coley Cannon, who represented the seller, National Development, and procured the buyer, Asana Partners, which is based in Charlotte.
Players
Allston Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.33%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93