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115 Munson Street, New Have...

Winchester Partners Secures $22M Loan For Development Site In New Haven
FINANCEDDevelopment Site

Winchester Partners Secures $22M Loan For Development Site In New Haven

115 Munson Street, New Haven, CT, USA

$22,000,000

$151/SF

Building Size

145,000 SF

Asset Type

Development Site

Closing

Jan 19, 2021

AI

Located at 115 Munson Street in New Haven, CT, this development site spans 145,000 square feet. The transaction took place on January 20, 2021, involving Winchester Partners as the landlord and Liberty Bank as the lender. The loan amount for this three-year floating rate loan is $22,000,000. The brokers involved in this deal were Drew Fletcher and Steven Deck from Greystone Capital Advisors.

Summary of transation details

  • Property Type: Development Site
  • Transaction Amount: $22,000,000
  • Address: 115 Munson Street
  • Market: New Haven, CT
  • Square Footage: 145,000
  • Landlord: Winchester Partners
  • Lender: Liberty Bank - Jeff Hubbard
  • Brokers: Drew Fletcher & Steven Deck - Greystone Capital Advisors

The individuals involved in this deal include Steven Deck, Drew Fletcher, and Jeff Hubbard. Steven Deck and Drew Fletcher represented the buyer and seller as brokers from Greystone Capital Advisors. Jeff Hubbard, representing Liberty Bank, facilitated the loan for this transaction.

Players

Drew Fletcher

Greystone

Broker

$6.9B

vol

40 deals

Broker
Greystone
GreystoneBrokerage
Liberty Bank
Liberty BankLender

New Haven Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.72%

Cash-on-Cash

-0.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93