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Brian Rooney Of FinanceBoston Arranges $11 Million Financing For 84-86 Ellery Street In Cambridge

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FINANCED
$11,000,000

Massachusetts

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MultiFamily
Financed 06/02/2025
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Property Image
FINANCED

Brian Rooney Of FinanceBoston Arranges $11 Million Financing For 84-86 Ellery Street In Cambridge

84 Ellery Street & 86 Ellery Street

See Similar Deals
MultiFamily
Financed 06/02/2025
the dealplayerscompscontact
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Loan

The asset involved in this transaction is a multifamily property located at 84-86 Ellery Street, Cambridge, MA. The property is undergoing a condo conversion, with a loan amount of $11,000,000 allocated for this purpose, which includes an $8 million construction loan.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $11,000,000
  • Address: 84-86 Ellery Street
  • Market: Cambridge, MA
  • Lender: Bluestone Bank
  • Broker: Brian Rooney - FinanceBoston

Brian Rooney of FinanceBoston facilitated the financing arrangement for the condo conversion project. John Ward of Bluestone Bank provided the construction loan component, which is integral to the project's funding structure.

Players

Brian Rooney
FinanceBoston
Brian Rooney
10 deals$117.6M volume
BROKER
Bluestone Bank
Bluestone Bank
LENDER
Bluestone Bank
Bluestone Bank
LENDER

Details

FINANCED
IMAGE: Brian Rooney DATE: 06/02/2025 ADDRESS: 84-86 Ellery Street MARKET: Cambridge, MA ASSET TYPE: Multifamily LENDER: Bluestone Bank BROKER: Brian Rooney (@Brian_Rooney_FB) - FinanceBoston LOAN AMOUNT: $11,000,000 NOTE: Brian Rooney of FinanceBoston arranged $11 million in debt and equity financing for the condo conversion of 84-86 Ellery Street in Cambridge, including an $8 million construction loan provided by John Ward of Bluestone Bank.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$11,000,000.00

Monthly NOI$73,333.33
Monthly Debt Service$69,527.48
Change in Cash Flow$0.00
Refinance Proceeds$0.00