John O Toole Secures $2,667,000 Refinance Loan For Hotel At 70 Main Street Wellfleet MA
70 Main Street
$2,667,000
$369/SF
Building Size
7,215 SF
Asset Type
MultiFamily
Closing
Feb 24, 2025
AI
The asset involved in this transaction is a hotel located at 70 Main Street in Wellfleet, MA, with a total square footage of 7,215. The loan amount for this refinance transaction is $2,667,000.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $2,667,000
- Lender: Alex Sigman & Sean Kelly-Rand - RD Advisors
- Landlord: John O Toole
- Loan Type: Refinance
The transaction was facilitated by Alex Sigman and Sean Kelly-Rand, who operate under RD Advisors, a lending company accepting loan requests for non-owner occupied residential and commercial properties in Massachusetts.
Players
Wellfleet 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
5.95%
Cash-on-Cash
-1.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93