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.
On the Map
$16,800,000
MultiFamily
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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