Updated Mar 11, 2025
MassDevelopment & Newburyport Bank Provide $3.1M Loan For Renovation Of Historic Building In Haverhill, MA
5-51 Wingate Street Haverhill, Massachusetts 01832
$3,100,000
Building Size
—
Asset Type
Mixed-use
Closing
Jun 15, 2023
About this deal
AI
A historic five-story building located at 45-51 Wingate Street in Haverhill, Massachusetts is set to undergo a renovation with the help of $3.1 million in financing provided by MassDevelopment and Newburyport Bank. The mixed-use property is situated in the vibrant market of Haverhill, MA.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $3,100,000
- Lender: MassDevelopment & Newburyport Bank
- Date: 06/15/2023
- Address: 45-51 Wingate Street
- Market: Haverhill, MA
MassDevelopment and Newburyport Bank have collaborated to provide $3.1 million in financing for the renovation of the historic five-story building located at 45-51 Wingate Street in Haverhill, Massachusetts. This partnership will support the transformation of the property, bringing new life to the mixed-use asset in the vibrant market of Haverhill, MA.
Players
Boston Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.12%
Cash-on-Cash
-1.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93