Updated Feb 5, 2025
Mack-Cali Realty Corp. - MaryAnne Gilmartin Secures $72M Loan For Multifamily Property In Malden, MA
21 Quarry Lane, Malden, MA, USA
$72,000,000
$13/SF
Building Size
5,291,342 SF
Asset Type
MultiFamily
Closing
Jan 14, 2021
About this deal
AI
Mack-Cali Realty Corp., represented by MaryAnne Gilmartin, has secured a loan worth $72,000,000 for a multifamily property located at 21 Quarry Lane in Malden, MA. The property consists of 326 units and is financed by New York Community Bank.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $72,000,000
- Address: 21 Quarry Lane, Malden, MA
- Market: Malden, MA
- Units: 326
- Landlord: Mack-Cali Realty Corp. - MaryAnne Gilmartin
- Lender: New York Community Bank
MaryAnne Gilmartin, representing Mack-Cali Realty Corp., successfully secured the loan from New York Community Bank for this multifamily property. The deal highlights the collaborative effort between the landlord and lender to secure financing for the property located at 21 Quarry Lane in Malden, MA.
On the Map
$72,000,000
$13/SF
MultiFamily
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Malden MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93