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

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FINANCED
$4,400,000

Massachusetts

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Development Site4,912 SF
Financed 06/21/2024
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Property Image
FINANCED

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

453 Somerville Avenue

See Similar Deals
Development Site4,912 SF
Financed 06/21/2024
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Summary

MASSACHUSETTS
Asset Type:Development Site
Price Per Square Foot:$895
Total Square Footage:4,912 SF
Transaction Type:Loan

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

LENDER

Details

FINANCED
IMAGE: Christopher J. Roche DATE: 06/21/2024 ADDRESS: 453 Somerville Avenue MARKET: Somerville, MA ASSET TYPE: Development Site ~ BSF: 8,300 ~ SF: 4,912 LENDER: Christopher J. Roche - Crowd Lending (@CrowdLendingInc) LOAN AMOUNT: $4,400,000 LOAN TYPE: Construction

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$4,400,000.00

Monthly NOI$29,333.33
Monthly Debt Service$27,810.99
Change in Cash Flow$0.00
Refinance Proceeds$0.00