Gazit Horizons Inc Acquires Property At 35 Winter St Boston For $24.8M With Brokers Newmark
35 Winter St # 41, Boston, MA, 02108
$24,800,000
$864/SF
Building Size
28,690 SF
Asset Type
Retail
Closing
Nov 19, 2023
AI
The property asset involved in the transaction is a retail and office building located at 35 Winter St #41, Boston, MA, 02108. The property was sold for $24,800,000.00 and has a total square footage of 28,690. It is situated in Boston's Downtown Crossing district and was fully leased at the time of the sale. The building features Liberty Travel as an anchor tenant.
Summary of transaction details:
- Property Type: Retail and Office Building
- Transaction Amount: $24,800,000.00
- Address: 35 Winter St #41, Boston, MA, 02108
- Market: Boston
- Square Footage: 28,690
- Buyer's Name: Gazit Horizons Inc
- Seller's Representatives: Justin Smith - Remax, Matthew (Matt) Pullen - Newmark, Geoffrey Millred - NKF Capital Markets
- Brokers: Edward Maher - Newmark
The deal involved several key individuals and companies, including Robert Griffin, Paul Penman, and Christopher Peterson of NKF Capital Markets, who also played roles in representing the seller during the transaction. Gazit Horizons Inc. is a subsidiary of Israel-based Gazit-Globe, indicating international interest in the Boston real estate market.
Players
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
0.64%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93