Norwood Bank Provides $6.9M Refinance Loan For Leicester Multifamily
500 Stafford Street, Leicester, Cherry Valley, Massachusetts, USA
$6,945,000
$3,858/SF
Building Size
1,800 SF
Asset Type
MultiFamily
Closing
May 24, 2020
AI
Located at 500 Stafford Street in Leicester, MA, the multifamily property was recently involved in a closed transaction. The transaction took place on 05/24/2021.
Summary of transaction details:
- Asset Type: Multifamily
- Loan Amount: $6,945,000
- Loan Type: Refinance
Norwood Bank provided the loan for this transaction. Robert Damigella from Marcus & Millichap Boston represented the buyer as the broker.
For more information and images of the property, you can visit the original post on Instagram here.
Players
Cherry Valley 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
2.28%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93