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26 Evergreen Way, Nantucket...

FinanceBoston Represents Landlord In $6.995M Construction Loan For Nantucket Development Site
FINANCEDDevelopment Site

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

Doug Landry

LandUP Capital

Broker

$214.7M

vol

20 deals

Broker
FinanceBoston
FinanceBostonBrokerage

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