FINANCEDMultiFamily
FinanceBoston's Doug Landry Arranges $8.3M Construction Loan For Revere, MA Multifamily Development
810 Washington Street
$8,300,000
$320/SF
Building Size
25,938 SF
Asset Type
MultiFamily
Closing
Mar 20, 2023
AI
A construction loan in the amount of $8,300,000 has been secured for a multifamily property in Revere, MA. The property, located at 810 Washington Street, consists of 30 units and has a total square footage of 25,938.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,300,000
- Address: 810 Washington Street
- Market: Revere, MA
- Square Footage: 25,938
- Units: 30
The construction loan was facilitated by Doug Landry of FinanceBoston, representing the landlord in the transaction.
Players
Market 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
1.91%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93