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FinanceBoston Secures $5.8M Loan For Mixed-Use Development At 1 Everett Street Boston
FINANCED
$5,800,000
Massachusetts
See Similar DealsDevelopment Site
Financed 08/19/2024
FINANCED
FinanceBoston Secures $5.8M Loan For Mixed-Use Development At 1 Everett Street Boston
1 Everett Street
See Similar DealsDevelopment Site
Financed 08/19/2024
Summary
MASSACHUSETTS
Asset Type:Development Site
Transaction Type:Loan
A development site located at 1 Everett Street in Boston, MA, has recently secured financing. The property is set to feature 14 residential and 2 commercial condo units. The site is strategically positioned near the Maverick MBTA Station and Piers Park, enhancing its appeal as a mixed-use development opportunity.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $5,800,000
- Lender: FinanceBoston
- Loan Date: 08/19/2024
The financing for this project includes $5.8 million in debt and preferred equity. FinanceBoston played a crucial role in facilitating the transaction, enabling the development of this location in East Boston.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,800,000.00
Monthly NOI$38,666.67
Monthly Debt Service$36,659.95
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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