Marcus & Millichap Capital Corporation (MMCC) Refinances A 46-unit Multifamily Property At 44 Byron Street, Worcester, MA With A $5,175,000 Loan
FINANCED
$5,175,000
Massachusetts
See Similar DealsMultiFamily43,648 SF
Financed 10/05/2021
FINANCED
Marcus & Millichap Capital Corporation (MMCC) Refinances A 46-unit Multifamily Property At 44 Byron Street, Worcester, MA With A $5,175,000 Loan
44 Byron Street, Worcester, MA 01606
See Similar DealsMultiFamily43,648 SF
Financed 10/05/2021
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$118
Total Square Footage:43,648 SF
Transaction Type:Loan
The multfamily property located at 44 Byron Street in Worcester, MA has recently undergone a loan refinancing transaction. The property consists of 46 units and is part of the Worcester market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,175,000
- Loan Type: Refinance
- Loan Terms: 10-year loan, fixed interest rate of 3.5%, 30-year amortization schedule
The loan for this transaction was facilitated by Robert Damigella from Marcus & Millichap Capital Corporation (MMCC). The loan amount of $5,175,000 was secured to refinance the property. The 10-year loan has a fixed interest rate of 3.5% and follows a 30-year amortization schedule.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,175,000.00
Monthly NOI$34,500.00
Monthly Debt Service$32,709.52
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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