Broadway Capital Acquires Multifamily Property In Chelsea, MA For $3.8M

The property involved in this closed transaction is a multifamily asset located at 156-160 Park St & 161-165 Pearl St in Chelsea, MA. The property spans approximately 15,800 square feet and was sold for an asking price and sale price of $3,800,000. This equates to a price per square foot of $241. The transaction took place on July 2, 2021, and the property achieved a capitalization rate of 6%. The seller of the property was Park & Pearl Realty, LLC, while the buyer was Broadway Capital, represented by Mike Vienneau. The brokerage firm involved in the deal was Marcus & Millichap, with John Craig acting as the broker.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,800,000
• Square Footage: 15,800
• Asking Price: $3,800,000
• Price Per Square Foot: $241
• Capitalization Rate: 6%

Mike Vienneau, representing Broadway Capital, was the buyer in this transaction. He successfully acquired the multifamily property located in Chelsea, MA. John Craig from Marcus & Millichap acted as the broker for Broadway Capital in this deal.