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1511 Main Street

Doug Landry Of LandUP Capital Provides $10.82M Construction Loan To Bandar Development In Worcester MA
FINANCEDCondo

Doug Landry Of LandUP Capital Provides $10.82M Construction Loan To Bandar Development In Worcester MA

1511 Main Street

$10,819,000

$180/SF

Building Size

60,000 SF

Asset Type

Condo

Closing

Mar 6, 2025

AI

The property asset involved in the transaction is a condo located at 1511 Main Street, Worcester, MA. The condo has a square footage of 60,000 and is part of a construction loan transaction valued at $10,819,000.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $10,819,000
  • Lender: Doug Landry - LandUP Capital
  • Landlord: Bandar Development
  • Loan Type: Construction
  • Loan Date: 03/06/2025

Doug Landry, who represents LandUP Capital as the lender, is the key financial figure in this deal, while Bandar Development is noted as the landlord involved in the transaction.

Players

Doug Landry

Lender

$214.7M

vol

20 deals

Lender

Worcester Condo Market Snapshot

Boundary boundary · Condo · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.47%

Cash-on-Cash

-0.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93