MassHousing Provides $10.4M Loan For Mixed-Use Property In Chelsea, MA
FINANCED
$10,400,000
Massachusetts
See Similar DealsMixed-use
Financed 08/25/2022
FINANCED
MassHousing Provides $10.4M Loan For Mixed-Use Property In Chelsea, MA
25 Sixth Street, Chelsea, Massachusetts 02150, United States
See Similar DealsMixed-use
Financed 08/25/2022
Summary
MASSACHUSETTS
Asset Type:Mixed-use
Transaction Type:Loan
A mixed-use property located at 25 6th St in Chelsea, MA was recently involved in a transaction. The property, situated in the Chelsea market, attracted attention from both lenders and landlords.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $10,400,000
- Address: 25 6th St, Chelsea, MA
- Market: Chelsea, MA
The lender for this transaction was masshousing''>MassHousing, with Chrystal Kornegay representing them. The loan amount for the transaction was $10,400,000. On the other hand, The Neighborhood Developers acted as the landlord in this deal, with Rafael Mares representing them.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$10,400,000.00
Monthly NOI$69,333.33
Monthly Debt Service$65,735.07
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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