Updated Mar 11, 2025
Fenway CDC & Schochet Companies Acquires South End Apartment In Boston For $30.3M Loan With MassHousing
599 Columbus Ave, Boston, MA 02118, USA
$30,300,000
$1,782/SF
Building Size
16,998 SF
Asset Type
Other
Closing
Jul 21, 2020
About this deal
AI
A $30,300,000 loan has been secured for the apartment property located at 599 Columbus Avenue in the South End neighborhood of Boston. The property consists of 97 units.
Summary of transaction details
- Property Type: Apartment
- Transaction Amount: $30,300,000
- Address: 599 Columbus Avenue
- Market: South End, Boston
The borrowers in this transaction are Fenway CDC represented by Leah Camhi and Schochet Companies represented by Richard Henken. The lender for the loan is masshousing''>MassHousing, represented by Chrystal Kornegay from the Department of Housing and Community Development. Fenway Community Development Corporation acted as the broker in this deal.
It is noteworthy that MassHousing is providing...
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.52%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93