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
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