FinanceBoston Represents Landlord In $6.995M Construction Loan For Nantucket Development Site
26 Evergreen Way, Nantucket, MA 02554, USA
$6,995,000
Building Size
—
Asset Type
Development Site
Closing
May 1, 2023
AI
A development site located at 26 Evergreen Way & 3 Skyline Drive in Nantucket, MA, was involved in a recent loan transaction. The loan, amounting to $6,995,000, was secured for the purpose of construction on the property.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $6,995,000
- Address: 26 Evergreen Way & 3 Skyline Drive, Nantucket, MA
- Market: Nantucket, MA
- Landlord's Rep: Doug Landry - FinanceBoston
- Loan Type: Construction
Doug Landry from FinanceBoston represented the landlord in this loan transaction. The loan, obtained for the development site at 26 Evergreen Way & 3 Skyline Drive, will be utilized for construction purposes.
Players
Boston 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
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93