Updated May 12, 2025
Sean Kelly-Rand Secures $7.02M Construction Loan For Multifamily Rehabilitation In Boston
4 East Street Boston & 8 East Springfield Street
$7,020,000
$1,181/SF
Building Size
2,971 SF
Asset Type
MultiFamily
Closing
Oct 25, 2023
About this deal
AI
The property involved in this transaction is a multifamily rehabilitation asset located at 4-8 E Springfield St in the South End market of Boston, MA. The asset spans a total area of 2,971 square feet and is associated with a construction loan amounting to $7,020,000.
Summary of transaction details:
- Property Type: Multifamily Rehabilitation
- Transaction Amount: $7,020,000
- Loan Type: Construction
- Lender: Sean Kelly-Rand - RD Advisors
- Date of Transaction: 10/25/2023
- Address: 4-8 E Springfield St, Boston, MA
Sean Kelly-Rand, representing RD Advisors, facilitated the loan for this property transaction. RD Advisors is currently accepting loan requests for non-owner-occupied residential and commercial properties in Massachusetts, allowing submissions to be done in under five minutes through their website.
Players
Roxbury Crossing 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
2.26%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93