Updated Sep 9, 2024
Crowd Lending Inc Provides $3.78M Construction Loan For Development Site In Boston
173 Magnolia Street
$3,780,000
Building Size
—
Asset Type
Development Site
Closing
Jul 22, 2022
About this deal
AI
A construction loan in the amount of $3,780,000 has been secured for the development site located at 173 Magnolia St in Boston, MA. The loan is provided by Crowd Lending Inc, represented by broker Robert Nichols. The property, which is currently a development site, is situated in the Boston market.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $3,780,000
- Date: 07/22/2022
- Address: 173 Magnolia St
- Market: Boston, MA
- Loan Type: Construction
- Broker: Robert Nichols - Crowd Lending Inc
Robert Nichols from Crowd Lending Inc played a crucial role in facilitating the loan for the development site at 173 Magnolia St. His expertise in the real estate market and his representation of Crowd Lending Inc allowed for the successful negotiation and acquisition of the construction loan.
Players
City of Rochester Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.20%
Cash-on-Cash
-1.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93