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
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