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Sean Kelly-Rand Secures $7.02M Construction Loan For Multifamily Rehabilitation In Boston

Property Image
FINANCED
$7,020,000

Massachusetts

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MultiFamily5,942 SF
Financed 10/25/2023
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Property Image
FINANCED

Sean Kelly-Rand Secures $7.02M Construction Loan For Multifamily Rehabilitation In Boston

4 East Street Boston & 8 East Springfield Street

See Similar Deals
MultiFamily5,942 SF
Financed 10/25/2023
the dealplayerscompscontact
Contact now

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$1,181
Total Square Footage:5,942 SF
Transaction Type:Loan

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

Sean Kelly-Rand
RD Advisors
Sean Kelly-Rand
85 deals$113.2M volume
LENDER
RD Advisors
RD Advisors
LENDER

Details

FINANCED
IMAGE: Sean Kelly-Rand DATE: 10/25/2023 ADDRESS: 4-8 E Springfield St (The South End) MARKET: Boston, MA ASSET TYPE: Multifamily Rehabilitation ~ SF: 2,971 LENDER: Sean Kelly-Rand - RD Advisors (@RD.Advisors) LOAN AMOUNT: $7,020,000 LOAN TYPE: Construction NOTE FROM LENDER: RD Advisors is accepting loan requests for non-owner-occupied residential and commercial properties in Massachusetts! Submit a deal in under 5 minutes through our website (www.rd.loans)

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$7,020,000.00

Monthly NOI$46,800.00
Monthly Debt Service$44,371.18
Change in Cash Flow$0.00
Refinance Proceeds$0.00