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40 Pleasant Street

Chinburg Development LLC Acquires Office In Portsmouth, NH For $5.45M
SOLDOffice

Chinburg Development LLC Acquires Office In Portsmouth, NH For $5.45M

40 Pleasant Street

$5,450,000

$224/SF

Building Size

24,237 SF

Asset Type

Office

Closing

May 29, 2024

AI

Located at 40 Pleasant Street in Portsmouth, NH, the office property spanning 24,237 square feet was sold for $5,450,000. The transaction involved Chinburg Development LLC as the buyer and Allison Street Holdings, LLC as the seller. The deal was brokered by Kent White and Caitlin Burke from The Boulos Company.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $5,450,000
  • Address: 40 Pleasant Street
  • Market: Portsmouth, NH
  • Square Footage: 24,237
  • Buyer: Chinburg Development LLC
  • Seller: Allison Street Holdings, LLC
  • Brokers: Kent White & Caitlin Burke - The Boulos Company
  • Price per Square Foot: $225

Facilitated by Kent White and Caitlin Burke of The Boulos Company, the sale of 40 Pleasant Street in Portsmouth, NH, for $5,450,000 was completed between Chinburg Development LLC and Allison Street Holdings, LLC. The transaction showcased the expertise and collaborative effort of the brokers in bringing the deal to fruition.

Players

Kent White

The Boulos Company

Broker

$8.1M

vol

3 deals

Broker

Portsmouth Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.91%

Cash-on-Cash

-0.83%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93