Updated Dec 21, 2023
Cronheim Mortgage Arranges $13M Loan For Office Property In Westport, CT
8-10 Wright Street, Westport, CT, USA
$13,000,000
$154/SF
Building Size
84,000 SF
Asset Type
Office
Closing
Oct 15, 2020
About this deal
AI
The office property located at 8-10 Wright Street in Westport, CT has recently undergone a closed transaction. The property spans 84,000 square feet and is situated in the Westport market.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $13,000,000
- Loan Terms: 10-year term with a 25-year amortization and has a rate reset at the end of the seventh year
Andrew Stewart from Cronheim Mortgage represented the buyer as the loan broker in this transaction.
The office loan at 8-10 Wright Street, Westport, CT, USA in Westport, Connecticut financed for $13M in 2020. The building is 84,000 square feet, implying about 154 per square foot on the published price. Andrew Stewart, Cronheim Mortgage appear on the loan alongside Cronheim Mortgage. This page is the Westport, Connecticut file for the 8-10 Wright Street, Westport, CT, USA office financed: pricing, party profiles, and other closed office comps from the same Westport sit in the Market section below. Filter that Westport office set by closing date to see what else financed near 8-10 Wright Street, Westport, CT, USA around 2020. Published consideration for 8-10 Wright Street, Westport, CT, USA is $13M, dated 2020. Cite this Cronheim Mortgage Arranges $13M Loan For Office Property In Westport, CT loan when underwriting similar office product around Westport, Connecticut.
Westport Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.22%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93