Updated Dec 21, 2023
Fantini & Gorga Arranges $1.8M Construction Loan For Residential Condominium In Gloucester
78 Thatcher Rd, Gloucester, MA 01930, USA
$1,800,000
$119/SF
Building Size
15,103 SF
Asset Type
—
Closing
Jun 21, 2020
About this deal
AI
A residential condominium located at 78 Thatcher Road in Gloucester has recently closed in a transaction.
Summary of transaction details
- Property Type: Residential Condominium
- Loan Amount: $1,800,000
- Loan Type: Construction Loan
The deal was facilitated by brokers Derek Coulombe and Lindsay Feig of Fantini & Gorga.
The commercial loan at 78 Thatcher Rd, Gloucester, MA 01930, USA in Gloucester, Massachusetts financed for $1.8M in 2020. The building is 15,103 square feet, implying about 119 per square foot on the published price. Lindsay Feig, Derek Coulombe, Fantini & Gorga appear on the loan alongside Fantini & Gorga. This page is the Gloucester, Massachusetts file for the 78 Thatcher Rd, Gloucester, MA 01930, USA commercial financed: pricing, party profiles, and other closed commercial comps from the same Gloucester sit in the Market section below. Filter that Gloucester commercial set by closing date to see what else financed near 78 Thatcher Rd, Gloucester, MA 01930, USA around 2020. Published consideration for 78 Thatcher Rd, Gloucester, MA 01930, USA is $1.8M, dated 2020. Cite this Fantini & Gorga Arranges $1.8M Construction Loan For Residential Condominium In Gloucester loan when underwriting similar commercial product around Gloucester, Massachusetts.
Players
Gloucester CRE Market Snapshot
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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