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5-9 Tovar Street, Dorcheste...

Finance Boston Secures $3M Construction Loan For Development Site In Dorchester, MA - Brian Rooney & Jake Cremmen
FINANCEDDevelopment Site

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

Brian Rooney

FinanceBoston

Broker

$117.6M

vol

10 deals

Broker

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

5.29%

Cash-on-Cash

-1.51%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93