Updated Oct 25, 2024
Renovo Financial Provides $1.8M Construction Loan For Multifamily Property In Norwalk, CT
107 South Main Street, Norwalk, CT, USA
$1,800,000
$211/SF
Building Size
8,512 SF
Asset Type
MultiFamily
Closing
Nov 16, 2021
About this deal
AI
The property involved in this closed transaction is a multifamily asset located at 107 South Main Street in Norwalk, CT. The property has a total square footage of 8,512 and consists of 16 units. The transaction took place on 11/16/2021.
Summary of transaction details
- Property Type: Multifamily
- Market: Norwalk, CT
- Square Footage: 8,512
- Number of Units: 16
The lender for this transaction was Renovo Financial, providing a construction loan for a total amount of $1,800,000. The landlord involved in this deal is Jonathan Zarka. The brokers who facilitated this transaction were David May and Evan Boles from Progress Capital.
On the Map
$1,800,000
$211/SF
MultiFamily
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Players
Norwalk MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93