Updated Dec 20, 2023
Cornerstone Realty Capital Secures $10.25M Refinance Loan For Mixed-Use Property At 54-72 Summer St, Malden, MA
54 Summer St, Malden, Massachusetts 02148, United States
$10,250,000
$357/SF
Building Size
28,650 SF
Asset Type
Mixed-use
Closing
Sep 15, 2022
About this deal
AI
A mixed-use property located at 54-72 Summer St in Malden, MA has recently undergone a refinancing transaction. The property spans a total of 28,650 square feet and comprises 65 units. The transaction was facilitated by Cornerstone Realty Capital, with Andrew Saccone representing the buyer.
Summary of transaction details
- Property Type: Mixed use
- Transaction Amount: $10,250,000
- Address: 54-72 Summer St, Malden, MA
- Market: Malden, MA
- Square Footage: 28,650
- Units: 65
The refinancing loan for the property amounted to $10,250,000. Cornerstone Realty Capital, with Andrew Saccone as the representative, was responsible for facilitating the loan transaction.
Malden Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.55%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93