Updated Dec 4, 2024
Crowd Lending Funds $2.36M Construction Loan For Development Site In Quincy
161 Sumner Street
$2,363,000
$163/SF
Building Size
14,500 SF
Asset Type
Development Site
Closing
Feb 7, 2024
About this deal
AI
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,363,000.00
- Address: 161 Sumner Street, Quincy, MA
- Market: Quincy, MA
- Asset Type: Development Site
- Square Footage: 14,500
- Units: 4
- Lender: Crowd Lending
- Landlord: Xiao Yu
- Lender's Rep: Robert Nichols - MIG Realty
- Loan Type: Construction
The development site loan at 161 Sumner Street in Quincy, Massachusetts financed for $2.4M in 2024. Reported inventory is 14,500 square feet across 4 units, or about 163 per square foot. Robert Nichols, MIG Realty appear on the loan alongside MIG Realty. This page is the Quincy, Massachusetts file for the 161 Sumner Street development site financed: pricing, party profiles, and other closed development site comps from the same Quincy sit in the Market section below. Filter that Quincy development site set by closing date to see what else financed near 161 Sumner Street around 2024. Published consideration for 161 Sumner Street is $2.4M, dated 2024. Cite this Crowd Lending Funds $2.36M Construction Loan For Development Site In Quincy loan when underwriting similar development site product around Quincy, Massachusetts.
On the Map
$2,363,000
$163/SF
Development Site
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Players
Quincy Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.71%
Cash-on-Cash
-1.92%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93