Updated Dec 20, 2023
Mott & Chace Sotheby's Intl Realty Sells Providence Multifamily For $25M
903 Providence Place, Providence, Rhode Island 02903, United States
$25,000,000
$33,967/SF
Building Size
736 SF
Asset Type
MultiFamily
Closing
Feb 10, 2022
About this deal
AI
Located at 903 Providence Pl in Providence, RI, this recent closed transaction involved a multifamily property. The deal was facilitated by Ben Scungio, Sara Chaffee, Kimberly Marion, and The Blackstone Team from Mott & Chace Sotheby’s International Realty. The property consists of 90 units, with a sale price of $25,000,000, resulting in a per unit price of $277,778.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $25,000,000
- Address: 903 Providence Pl
- Market: Providence, RI
- Brokers: Ben Scungio, Sara Chaffee, Kimberly Marion, and The Blackstone Team - Mott & Chace Sotheby’s International Realty
- Units: 90
- Price Per Unit: $277,778
This successful transaction showcased the expertise of Ben Scungio, Sara Chaffee, Kimberly Marion, and The Blackstone Team from Mott & Chace Sotheby’s International Realty. Their efforts resulted in the sale of this multifamily property, providing valuable opportunities for both the buyer and seller.
Players
Providence MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93