Updated Oct 28, 2024
MassHousing Provides $16.8M Housing Financing For Charlestown Multifamily Property
9 West School Street, Charlestown, Massachusetts 02129, United States
$16,800,000
Units
48
Asset Type
MultiFamily
Closing
Jul 20, 2022
About this deal
AI
A multifamily property consisting of 48 units located at 9 West School St in Charlestown, MA has recently secured housing financing. The loan amount for this transaction is $16,800,000, facilitated by masshousing''>MassHousing. The lender representative involved in this deal is Chrystal Kornegay. The landlord for this property is Affordable Housing & Services Collaborative, represented by Michael J. Mattos and Peabody Properties.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $16,800,000
- Address: 9 West School St
- Market: Charlestown, MA
- Units: 48
Chrystal Kornegay, representing MassHousing, played a crucial role in providing the necessary housing financing for the acquisition of this multifamily property. The collaboration between Affordable Housing & Services Collaborative, led by Michael J. Mattos and Peabody Properties, has made this transaction possible, ensuring the availability of affordable housing in the area.
Players
Boston 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
0.94%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93