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1463 Dorchester Avenue, Dor...

MassHousing Provides $8M Loan For Dorchester Multifamily Property
FINANCEDMultiFamily

MassHousing Provides $8M Loan For Dorchester Multifamily Property

1463 Dorchester Avenue, Dorchester, MA 02122

$8,000,000

Building Size

Asset Type

MultiFamily

Closing

Jan 4, 2022

AI

A multifamily property located at 1463 Dorchester Ave in Dorchester, MA has been involved in a closed transaction. The loan for this property was provided by masshousing''>MassHousing, with a loan amount of $8,000,000. The landlord of the property is TLee Development LLC, represented by Travis Lee. Chrystal Kornegay served as the representative of MassHousing in this transaction.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $8,000,000
  • Address: 1463 Dorchester Ave, Dorchester, MA
  • Lender: MassHousing - Chrystal Kornegay
  • Landlord: TLee Development LLC - Travis Lee

Chrystal Kornegay, representing MassHousing, provided the loan for the multifamily property located at 1463 Dorchester Ave. Travis Lee, as the landlord and representative of TLee Development LLC, was involved in the closed transaction.

Players

MassHousing
MassHousingLender

Travis Lee

TLee Development LLC

Landlord

$15.1M

vol

2 deals

Landlord

Boston MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.98%

Cash-on-Cash

-0.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93