Crowd Lending Provides $3.01M Construction Loan For Development Site In Boston, MA
FINANCED
$3,013,500
Massachusetts
See Similar DealsDevelopment Site43,704 SF
Financed
FINANCED
Crowd Lending Provides $3.01M Construction Loan For Development Site In Boston, MA
43-47 Fremont Street
See Similar DealsDevelopment Site43,704 SF
Financed
Summary
MASSACHUSETTS
Asset Type:Development Site
Price Per Square Foot:$69
Total Square Footage:43704 SF
Transaction Type:Loan
A construction loan in the amount of $3,013,500 has been secured by Crowd Lending for the development site located at 43-47 Fremont Street in Boston, MA. The property has a total area of 43,704 square feet. The loan will be used for the construction of a new project on the site.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $3,013,500
- Address: 43-47 Fremont Street, Boston, MA
- Market: Boston, MA
- Lender: Crowd Lending
- Landlord: Sean Cardinal O'Malley - OFM CAP
- Lender's Representative: Robert Nichols - MIG Realty
Robert Nichols from MIG Realty represented Crowd Lending as the lender's representative in the deal. The loan is of the construction type and will facilitate the development of a new project on the development site.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,013,500.00
Monthly NOI$20,090.00
Monthly Debt Service$19,047.37
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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