FINANCED
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
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.
Players
Gloucester CRE Market Snapshot
Boundary boundary · CRE · 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