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226 Harvard Ave, Boston, MA...

Asana Partners Acquires Property At 226 Harvard Ave Boston For $11.9 Million With Coley Cannon As Seller's Rep
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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

Robert Griffin

Newmark

Broker

$7.3B

vol

72 deals

Broker
Asana Partners
Asana PartnersBuyer

Allston 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

1.33%

Cash-on-Cash

-0.38%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93