Finance Boston Secures $3M Construction Loan For Development Site In Dorchester, MA - Brian Rooney & Jake Cremmen
5-9 Tovar Street, Dorchester, Massachusetts 02122, United States
$3,000,000
$361/SF
Building Size
8,300 SF
Asset Type
Development Site
Closing
Feb 13, 2022
AI
An $3,000,000 construction loan has been secured for a development site located at 5-9 Tovar Street in Dorchester, MA. The property is a development site with a total square footage of 8,300. The loan was obtained through Finance Boston, with Brian Rooney and Jake Cremmen representing the agency.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,000,000
- Address: 5-9 Tovar Street, Dorchester, MA
- Market: Dorchester, MA
- Asset Type: Development Site
- Square Footage: 8,300
Finance Boston, represented by Brian Rooney and Jake Cremmen, facilitated the loan transaction amounting to $3,000,000 for the development site at 5-9 Tovar Street in Dorchester, MA. The loan will be utilized for construction purposes.
Players
Boston Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93