Updated Oct 29, 2024
Doug Landry - FinanceBoston Provides $5M Mezzanine Loan For Development Site In Charlestown, MA
24 Spice Street
$5,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Feb 21, 2023
About this deal
AI
A mezzanine loan in the amount of $5,000,000 has been secured for the development site located at 24 Spice Street in Charlestown, MA. The loan is being provided by Doug Landry of FinanceBoston.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $5,000,000
Doug Landry of FinanceBoston is the lender for this mezzanine loan, supporting the development of the site at 24 Spice Street in Charlestown, MA. The borrower in this transaction is RISE.
The multifamily loan at 24 Spice Street in Massachusetts financed for $5M in 2023. 24 Spice Street is classified as Multifamily on Traded. This page is the Massachusetts file for the 24 Spice Street multifamily financed: pricing, party profiles, and other closed multifamily comps from the same Massachusetts sit in the Market section below. Filter that local multifamily set by closing date to see what else financed near 24 Spice Street around 2023. Published consideration for 24 Spice Street is $5M, dated 2023. Cite this Doug Landry - FinanceBoston Provides $5M Mezzanine Loan For Development Site In Charlestown, MA loan when underwriting similar multifamily product around Massachusetts.
On the Map
$5,000,000
MultiFamily
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Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93