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70 Main Street

John O Toole Secures $2,667,000 Refinance Loan For Hotel At 70 Main Street Wellfleet MA
FINANCEDMultiFamily

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

Sean Kelly-Rand

Lender

$114.3M

vol

86 deals

Lender

Wellfleet 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

5.95%

Cash-on-Cash

-1.70%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93