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
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