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132 Seaver Street, Boston, ...

Updated Oct 28, 2024

MassHousing Refinances Dorchester Multifamily Property For $31.4M
FINANCEDMultiFamily

MassHousing Refinances Dorchester Multifamily Property For $31.4M

132 Seaver Street, Boston, MA, USA

$31,400,000

$143,379/SF

Building Size

219 SF

Asset Type

MultiFamily

Closing

Sep 21, 2021

About this deal

AI

The multifamily property located at 132 Seaver St in Dorchester, MA has recently undergone a refinancing transaction. The property consists of 219 units and is owned by The Community Builders Inc. The loan was provided by masshousing''>MassHousing and Chrystal Kornegay, the Executive Director of MassHousing, represented the lender in this transaction. The loan amount for the refinancing was $31,400,000.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $31,400,000
  • Address: 132 Seaver St, Dorchester, MA
  • Units: 219
  • Lender: MassHousing - Chrystal Kornegay
  • Landlord: The Community Builders Inc.

Chrystal Kornegay, who is the Executive Director of MassHousing, played a key role as the lender's representative in this refinancing deal for the multifamily property at 132 Seaver St, Dorchester. With her expertise and involvement, this successful transaction was completed.

Players

MassHousing
MassHousingLender

Boston MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $143.4K per square foot on a published $31.4M for 219 square feet (2021).

Browse Massachusetts multifamily loans on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.51%

Cash-on-Cash

-0.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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