Updated Mar 11, 2025
MINCO Development Corporation Secures $30.6M Loan For Multifamily Property At 1 Boston Way
1 Boston Way, Newburyport, Massachusetts 01950, United States
$30,600,000
Building Size
—
Asset Type
MultiFamily
Closing
Apr 27, 2022
About this deal
AI
The closed property transaction took place at 1 Boston Way in Newburyport, MA. The asset involved in the transaction is a multifamily property.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $30,600,000
- Lender: Rockland Trust - Nancy Bailey; Newburyport Bank
- Landlord: MINCO Development Corporation - Louis Minicucci
Representing the buyer, Nancy Bailey from Rockland Trust and the Newburyport Bank provided the loan for the transaction. The seller, Louis Minicucci, represented the MINCO Development Corporation as the landlord.
The multifamily loan at 1 Boston Way, Newburyport, Massachusetts 01950, United States in Newburyport, Massachusetts financed for $30.6M in 2022. 1 Boston Way, Newburyport, Massachusetts 01950, United States is classified as Multifamily on Traded. This page is the Newburyport, Massachusetts file for the 1 Boston Way, Newburyport, Massachusetts 01950, United States multifamily financed: pricing, party profiles, and other closed multifamily comps from the same Newburyport sit in the Market section below. Filter that Newburyport multifamily set by closing date to see what else financed near 1 Boston Way, Newburyport, Massachusetts 01950, United States around 2022. Published consideration for 1 Boston Way, Newburyport, Massachusetts 01950, United States is $30.6M, dated 2022. Cite this MINCO Development Corporation Secures $30.6M Loan For Multifamily Property At 1 Boston Way loan when underwriting similar multifamily product around Newburyport, Massachusetts.
Players
Newburyport MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.52%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93