Updated Oct 28, 2024
Providence Realty Investment Refinances Winchester Multifamily Property For $4M
75 Hemingway Street, Winchester, Massachusetts 01890, United States
$4,000,000
Units
18
Asset Type
MultiFamily
Closing
May 15, 2022
About this deal
AI
The multifamily property located at 75 Hemingway St in Winchester, MA has recently undergone a refinance transaction. The property consists of 18 units and is owned by Providence Realty Investment, LLC.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Date: 05/16/2022
- Loan Amount: $4,000,000
- Loan Type: Refinance
- Lender: masshousing''>MassHousing - Chrystal Kornegay & Rockport Mortgage - Dan Lyons
- Landlord: Providence Realty Investment, LLC - Raymond Uritescu
The refinance loan for the property was provided by MassHousing, represented by Chrystal Kornegay, and Rockport Mortgage, represented by Dan Lyons. This transaction allows Providence Realty Investment, LLC to secure a loan of $4,000,000 to support their property investment in Winchester, MA.
Players
Winchester 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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93