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Renovo Financial Provides $1.8M Construction Loan For Multifamily Property In Norwalk, CT

Property Image
FINANCED
$1,800,000
Evan Boles
David May
Jonathan Zarka

Connecticut

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MultiFamily8,512 SF
Financed 11/16/2021
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Property Image
FINANCED

Renovo Financial Provides $1.8M Construction Loan For Multifamily Property In Norwalk, CT

107 South Main Street, Norwalk, CT, USA

See Similar Deals
MultiFamily8,512 SF
Financed 11/16/2021
Evan Boles
David May
Jonathan Zarka
the dealplayerscompscontact
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Summary

CONNECTICUT
Asset Type:MultiFamily
Price Per Square Foot:$211
Total Square Footage:8,512 SF
Transaction Type:Loan

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.

Players

David May
Progress Capital
David May
10 deals$24.2M volume
BROKER
Evan Boles
Progress Capital
Evan Boles
15 deals$42.5M volume
BROKER
Renovo Financial
Renovo Financial
LENDER
Jonathan Zarka
Jonathan Zarka
7 deals$8.9M volume
LANDLORD

Details

FINANCED
IMAGE: David May & Evan Boles DATE: 11/16/2021 ADDRESS: 107 South Main Street MARKET: Norwalk, CT ASSET TYPE: Multifamily ~ SF: 8,512 ~ UNITS: 16 LENDER: Renovo Financial LANDLORD: Jonathan Zarka BROKERS: David May (@CRE_Loans) & Evan Boles (@EvanBoles_) - Progress Capital (@Progress.Capital) LOAN AMOUNT: $1,800,000 LOAN TYPE: Construction loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$1,800,000.00

Monthly NOI$12,000.00
Monthly Debt Service$11,377.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00