Updated Oct 29, 2024
Land Bank Acquires Single Family Property On Bartlett Road In Nantucket, MA For $2.9M
69 Bartlett Road Nantucket, Massachusetts 02554, Usa
$2,900,000
Building Size
—
Asset Type
Single Family
Closing
Jul 13, 2023
About this deal
AI
The Land Bank has acquired a duplex property located at 69 Bartlett Road in Nantucket, MA, for a total sale price of $2.9 million. The property, which is classified as a Single Family asset, will be utilized as staff housing for employees at the Land Bank's Miacomet Golf Course.
Summary of Transaction Details
- Property Type: Single Family
- Transaction Amount: $2,900,000
- Address: 69 Bartlett Road, Nantucket, MA
The buyer, Land Bank, has purchased the duplex property from Foray Bartlett LLC. The acquisition was made to address the need for staff housing for employees at the Land Bank's Miacomet Golf Course. This transaction aligns with the Land Bank's commitment to providing suitable accommodations for its workforce.
On the Map
$2,900,000
Single Family
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Horseshoe Lagoon Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.47%
Cash-on-Cash
-1.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93