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27 East River, LLC Acquires Development Site In Providence, RI For $2.3M

Property Image
SOLD
$2,300,000
Bill Greene
Matthew (Matt) Fair

Rhode Island

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Development Site
Sold 11/10/2023
the dealplayerscompscontact
Property Image
SOLD

27 East River, LLC Acquires Development Site In Providence, RI For $2.3M

27 East River Street

See Similar Deals
Development Site
Sold 11/10/2023
Bill Greene
Matthew (Matt) Fair
the dealplayerscompscontact
Contact now

Summary

RHODE ISLAND
Asset Type:Development Site
Transaction Type:Sale

The development site located at 27 East River Street in Providence, RI has been sold in a recent transaction. The property spans over 2 acres and offers waterfront views. The sale of this site was finalized by Hayes & Sherry, a member of the Cushman & Wakefield alliance, on behalf of the seller, RS Acquisitions, LLC, to the buyer, 27 East River, LLC. The transaction price for this sale was $2,300,000.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $2,300,000
  • Address: 27 East River Street, Providence, RI
  • Market: Providence, RI

Bill Greene and Matthew Fair from Hayes & Sherry represented both parties as brokers in this transaction. The buyer, 27 East River, LLC, has plans for residential development on this prime waterfront site. This sale marks a successful deal for all the involved parties.

Players

Bill Greene
Hayes & Sherry
Bill Greene
1 deal$2.3M volume(401) 378-2841
BROKER
Matthew (Matt) Fair
Hayes & Sherry
Matthew Fair
2 deals$5.6M volume(401) 273-2053
BROKER
AL
Acquisitions LLC
SELLER

Details

SOLD
IMAGE: Bill Greene & Matthew Fair DATE: 11/10/2023 ADDRESS: 27 East River Street MARKET: Providence, RI ASSET TYPE: Development Site ~ ACRES: 2 BUYER: 27 East River, LLC SELLER: RS Acquisitions, LLC BROKERS: Bill Greene & Matthew Fair - Hayes & Sherry SALE PRICE: $2,300,000 NOTE: Hayes & Sherry, a member of the Cushman & Wakefield alliance, finalized the sale of the East River St. property for $2.3 million to 27 East River, LLC, with plans for residential development on the more than two-acre waterfront site.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$122,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,171.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,903.17
Annual Debt Service$130,838.08