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80 Welles Avenue

Abdul Barrier Secures $3.77M Construction Loan From Crowd Lending Inc For 80 Welles Avenue
FINANCEDDevelopment Site

Abdul Barrier Secures $3.77M Construction Loan From Crowd Lending Inc For 80 Welles Avenue

80 Welles Avenue

$3,774,000

$400/SF

Building Size

9,430 SF

Asset Type

Development Site

Closing

Jun 1, 2025

AI

The property involved in this transaction is a development site located at 80 Welles Avenue in Dorchester, MA. The asset has a building square footage of 9,430 square feet, which matches its lot size and is situated within a market identified as Dorchester. The loan amount for this development project is $3,774,000, categorized as a construction loan.

Summary of transation details:

The transaction involves key players including the landlord, Adbul Barrier, and the lender, Crowd Lending Inc, represented by Robert Nichols from MIG Realty. Robert Nichols is responsible for representing the lender in this deal, ensuring that all lending requirements and terms are met throughout the process.

Players

Robert Nichols

MIG Realty

Broker

$69M

vol

44 deals

Broker
MIG Realty
MIG RealtyBrokerage
Crowd Lending
Crowd LendingLender

Dorchester Center 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

4.20%

Cash-on-Cash

-1.20%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93