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453 Somerville Avenue

Updated Dec 4, 2024

Christopher J. Roche Crowdfunds $4.4M Construction Loan For Somerville Development Site
FINANCEDDevelopment Site

Christopher J. Roche Crowdfunds $4.4M Construction Loan For Somerville Development Site

453 Somerville Avenue

$4,400,000

$895/SF

Building Size

4,912 SF

Asset Type

Development Site

Closing

Jun 21, 2024

About this deal

AI

The development site located at 453 Somerville Avenue in Somerville, MA, boasts a building square footage of 4,912 and a buildable square footage of 8,300. The loan for this property was provided by Christopher J. Roche from Crowd Lending, amounting to $4,400,000 for construction purposes.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $4,400,000
  • Address: 453 Somerville Avenue
  • Market: Somerville, MA
  • Asset Type: Development Site
  • Building Square Footage: 4,912
  • Buildable Square Footage: 8,300
  • Lender: Christopher J. Roche - Crowd Lending
  • Loan Type: Construction

Christopher J. Roche played a key role in the transaction as the lender providing the construction loan for the development site on 453 Somerville Avenue. His involvement highlights the financial support crucial in facilitating the construction phase of this property.

Players

Crowd Lending
Crowd LendingLender

Somerville Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

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Deal FAQ

About $895 per square foot on a published $4.4M for 4,912 square feet (2024).

Browse Massachusetts development site loans on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.61%

Cash-on-Cash

-1.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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