Updated Nov 24, 2023
Cambridge Savings Bank Provides $93M Construction Loan For Mixed-Use Property In Chelsea, MA
54 Locke Street, Chelsea, Massachusetts 02150, United States
$93,000,000
$265,714/SF
Building Size
350 SF
Asset Type
Mixed-use
Closing
Jul 12, 2022
About this deal
AI
The mixed-use property located at 54 Locke Street in Chelsea, MA has been involved in a closed transaction. The property spans approximately 350,000 square feet and is situated in the market of Chelsea, MA.
Summary of transaction details:
- Property Type: Mixed-Use
- Transaction Amount: $93,000,000
The loan for this transaction was provided by Cambridge Savings Bank and was facilitated by Ian Brandon. The landlord involved in the deal is John M. Corcoran & Company, represented by Peter Mahoney and Joseph J. Corcoran Company. The broker responsible for the transaction is Marcus Partners.
Players
Chelsea Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
Loading comparables…
Deal FAQ
Browse Massachusetts mixed use loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93