Dr. Emma Wu Purchases Retail Property At 60 Leonard Street Belmont For $3 Million
60 Leonard Street
$3,000,000
$454/SF
Building Size
6,600 SF
Asset Type
Retail
Closing
Dec 31, 2024
AI
The property asset involved in the transaction is a retail space located at 60 Leonard Street in Belmont, MA. The sale price for the property was $3,000,000, and it encompasses a total square footage of 6,600, resulting in a price per square foot of $454.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,000,000
- Address: 60 Leonard Street
- Market: Belmont, MA
- Size: 6,600 sq ft
- Price per Square Foot: $454
- Buyer: Dr. Emma Wu
- Seller: Larry Bianchi
- Buyer's Representative: Demetrius Spaneas - Land & Sea Real Estate& Inc.
- Seller's Representatives: Joe Wagner & Whitney Gallivan - Boston Realty Advisors
The transaction involved key individuals representing both the buyer and the seller. Dr. Emma Wu purchased the property, while Larry Bianchi was the seller. Demetrius Spaneas represented the buyer through Land & Sea Real Estate & Inc., while Joe Wagner and Whitney Gallivan represented the seller through Boston Realty Advisors.
Players
Belmont 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
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93