Nic Beaujean Of Beau Development Secures $5.08M Construction Loan For Multifamily Project In Newton
394 Watertown Street
$5,079,000
$532/SF
Building Size
9,542 SF
Asset Type
MultiFamily
Closing
Feb 25, 2025
AI
The property asset involved is a multifamily building located at 394 Watertown Street in Newton, MA, with a total square footage of 9,542. The transaction involves a construction loan amounting to $5,079,000 for the development of luxury condos.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,079,000
- Loan Type: Construction
- Lender: LandUP Capital
- Landlord: Nic Beaujean - Beau Development
- Broker: Doug Landry - LandUP Capital
The key individuals involved in the deal include Nic Beaujean, representing Beau Development, and Doug Landry, who acts as the broker for LandUP Capital. The financing secured is specifically intended for the construction of luxury condos in the Newton market.
Players
Newton MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.12%
Cash-on-Cash
-0.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93