John O Toole Secures $2,667,000 Refinance Loan For Hotel At 70 Main Street Wellfleet MA
FINANCED
$2,667,000
Massachusetts
See Similar DealsMultiFamily7,215 SF
Financed 02/24/2025
FINANCED
John O Toole Secures $2,667,000 Refinance Loan For Hotel At 70 Main Street Wellfleet MA
70 Main Street
See Similar DealsMultiFamily7,215 SF
Financed 02/24/2025
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$369
Total Square Footage:7,215 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$2,667,000.00
Monthly NOI$17,780.00
Monthly Debt Service$16,857.25
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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