Updated Jun 18, 2025
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
About this deal
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:
- Property Type: Development Site
- Transaction Amount: $3,774,000
- Lender: Crowd Lending Inc
- Landlord: Adbul Barrier
- Lender's Representative: Robert Nichols - MIG Realty
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.
On the Map
$3,774,000
$400/SF
Development Site
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Players
Dorchester Center 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
4.20%
Cash-on-Cash
-1.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93