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60 South Avenue, South Bost...

Updated Oct 28, 2024

NFLSRE 2 Financial LLC Acquires Office Property On South Street In Boston For $210M
SOLDOffice

NFLSRE 2 Financial LLC Acquires Office Property On South Street In Boston For $210M

60 South Avenue, South Boston, VA, USA

$210,000,000

$832/SF

Building Size

252,392 SF

Asset Type

Office

Closing

Aug 26, 2021

About this deal

AI

The office building located at 60 South St in Boston, MA was recently sold in a transaction that took place on August 27, 2021. The property, comprising of 4 units, was sold by 60 South Street LP to NFLSRE 2 Financial LLC for a total sale price of $210,000,000. This translates to a price per unit (PPU) of $52,500,000. The building spans a total area of 252,392 square feet, resulting in a price per square foot (PPSF) of $832.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $210,000,000
  • Units: 4
  • Price per Unit (PPU): $52,500,000
  • Square Footage: 252,392
  • Price per Square Foot (PPSF): $832
  • Address: 60 South St, Boston, MA
  • Market: Boston, MA

The buyer of the property was NFLSRE 2 Financial LLC, while 60 South Street LP acted as the seller. This transaction represents a significant deal in the office market of Boston, MA.

Players

South Boston Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Deal FAQ

About $832 per square foot on a published $210M for 252,392 square feet (2021).

Browse Virginia office sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.08%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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