Maggiore Companies Secures $22.43M Mortgage From Bank Of New England In Arlington

1025 Massachusetts Avenue

$22,430,250

Building Size

—

Asset Type

Development Site

Closing

Mar 27, 2024

AI

The development site located at 1025 Massachusetts Avenue in Arlington, MA was the subject of a $22,430,250 mortgage secured by Maggiore Companies from Bank of New England.

Summary of transaction details:

Property Type: Development Site
Transaction Amount: $22,430,250
Address: 1025 Massachusetts Avenue
Market: Arlington, MA

Maggiore Companies successfully secured the substantial mortgage from Bank of New England for their condo project at 1025 Massachusetts Avenue, Arlington.

Players

Bank of New EnglandLender

Arlington Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.71%

Cash-on-Cash

-0.20%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93