Updated May 13, 2026
Eastern Bank Provides $17,000,000 Refinance Loan For Hotel Property In Nantucket, MA
17 Broad Street
$17,000,000
Building Size
—
Asset Type
Hotel
Closing
Apr 14, 2026
About this deal
AI
The asset involved in this transaction is a hotel located at 17 Broad Street in Nantucket, MA. The loan amount secured for refinancing this property is $17,000,000.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $17,000,000
- Lender: Eastern Bank
- Landlord: Faros Properties
- Broker: Jonathan Schneider - Boston Realty Advisors
- Loan Type: Refinance
- Date: 4/15/2026
The key individuals involved in the transaction include Jonathan Schneider, who represents Boston Realty Advisors in the capacity of broker. The lender for the refinancing is Eastern Bank, while the landlord is Faros Properties.
Players
Nantucket Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93