Updated Oct 28, 2024
WelcomeLend Brokers Will Macfee & Cameron Huard Arrange $34.7M Construction Loan For Development Site In Nantucket, MA
Nantucket, Massachusetts, United States
$34,700,000
$545/SF
Building Size
63,575 SF
Asset Type
Development Site
Closing
Jan 25, 2022
About this deal
AI
A construction loan worth $34,700,000 has been secured for a development site located in Nantucket, MA. The site spans across an area of 63,575 square feet. The loan is being provided by a debt fund.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $34,700,000
- Market: Nantucket, MA
- Asset Type: Development Site
- Square Footage: 63,575
The borrower, represented by Will Macfee and Cameron Huard from WelcomeLend, successfully secured the construction loan for the development site in Nantucket. The loan will support the construction and development activities on the site. No additional information about the parties involved in the transaction was provided.
On the Map
$34,700,000
$545/SF
Development Site
View full map
Players
Nantucket 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
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93