Alex Sigman & Sean Kelly-Rand Of RD Advisors Provide $2.35M Loan For Mixed-Use Property In Rockland MA
167 Union Street
$2,350,000
$292/SF
Building Size
8,037 SF
Asset Type
MultiFamily
Closing
Dec 12, 2024
AI
The property involved in this transaction is a mixed-use building located at 167 Union Street in Rockland, MA. It encompasses a total square footage of 12,071 and includes 11 units. The loan amount secured for this acquisition is $2,350,000, specifically for the purposes of building and land acquisition.
Summary of transation details:
- Property Type: Mixed-use
- Transaction Amount: $2,350,000
- Loan Type: Acquisition
- Loan Terms: Building and Land Acquisition
- Lender: Alex Sigman & Sean Kelly-Rand - RD Advisors
- Landlord: William Barry
The key individuals involved in the transaction include the lender representatives, Alex Sigman and Sean Kelly-Rand from RD Advisors, who were instrumental in facilitating the acquisition loan. The landlord for the property is William Barry, who holds ownership of the mixed-use asset.
Players
Rockland 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
6.75%
Cash-on-Cash
-1.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93