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268 & 278-280 Washington Ave

Mikael Vienneau Acquires Multifamily Property In Chelsea, MA For $4M
SOLDMultiFamily

Mikael Vienneau Acquires Multifamily Property In Chelsea, MA For $4M

268 & 278-280 Washington Ave

$4,000,100

$307/SF

Building Size

12,995 SF

Asset Type

MultiFamily

Closing

Apr 14, 2023

AI

The multifamily property located at 268 & 278-280 Washington Ave in Chelsea, MA has been sold in a closed transaction. The property consists of 16 units with a total square footage of 12,995. The sale price for this transaction was $4,000,100, resulting in a price per unit of $250,006 and a price per square foot of $308.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $4,000,100
  • Units: 16
  • Price per Unit: $250,006
  • Square Footage: 12,995
  • Price per Square Foot: $308
  • Address: 268 & 278-280 Washington Ave, Chelsea, MA
  • Seller: Milan Patel
  • Buyer: Mikael Vienneau
  • Brokers: Dennis Kelleher & John Pentore - Horvath & Tremblay

Leading the deal were brokers Dennis Kelleher and John Pentore from Horvath & Tremblay. Mikael Vienneau served as the buyer, while Milan Patel acted as the seller. These individuals and companies played crucial roles in facilitating the successful transaction of the multifamily property.

Players

Dennis Kelleher

Horvath & Tremblay

Broker

$565M

vol

97 deals

Broker
Mike Vienneau

Mike Vienneau

Broadway Capital

Buyer

$45.5M

vol

11 deals

Buyer

Milan Patel

Seller

$8M

vol

2 deals

Seller

Market MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.97%

Cash-on-Cash

-1.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93