Broadway Capital Secures $9.4M Construction Loan For The Quinn Residences In Chelsea, MA

The asset involved in this transaction is a development site located at 150 Williams Street, Chelsea, MA, with a building size factor of 24,200 and total square footage also measuring 24,200. The loan amount secured by the landlord, Mike Vienneau from Broadway Capital, is $9,405,000 for construction purposes.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $9,405,000
• Address: 150 Williams Street
• Market: Chelsea, MA
• Asset Size: 24,200 square feet
• Lender: Chrystal Kornegay - MassHousing
• Lender: Moddie Turay - MHIC
• Landlord: Mike Vienneau - Broadway Capital

The project, known as The Quinn Residences, is a 20-unit income-restricted condominium development at 146-150 Williams Street, Chelsea, MA. Broadway Capital's BTC Strategic Reserve has provided the capital for this project, incorporating cryptocurrency assets to create a significant housing impact.