Chatham Bay Acquires Development Site In East Kensington, Philadelphia For $9.6M
2019 East Boston Street
$9,600,000
Building Size
—
Asset Type
Development Site
Closing
Aug 31, 2022
AI
The property involved is a development site located at 2019 E Boston St in the East Kensington market of Philadelphia, PA. The transaction was completed for a total price of $9,600,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $9,600,000
- Buyer: Chatham Bay
- Seller: Viking Mill Associates LLC
- Brooks: Philip Sharrow & Craig Thom - SCOPE
Philip Sharrow and Craig Thom of SCOPE represented the transaction, providing brokerage services for the buyer and seller throughout the process. Their expertise facilitated the successful handling of this commercial real estate transaction.
Players
Philadelphia Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.65%
Cash-on-Cash
-0.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93