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Winchester Savings Bank Provides $2.57M Refinance Loan For Multifamily Property In Chelsea, MA

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FINANCED
$2,566,000

National

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MultiFamily10,600 SF
Financed 12/27/2022
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Property Image
FINANCED

Winchester Savings Bank Provides $2.57M Refinance Loan For Multifamily Property In Chelsea, MA

932 Broadway Unit 1

See Similar Deals
MultiFamily10,600 SF
Financed 12/27/2022
the dealplayerscompscontact
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Summary

Asset Type:MultiFamily
Price Per Square Foot:$242
Total Square Footage:10,600 SF
Transaction Type:Loan

Broadway Capital, represented by Mikael Vienneau, refinanced a multifamily property located at 783 Broadway, 71 Chester & 748 Broadway in Chelsea, MA. The property spans approximately 10,600 square feet and is situated in the Chelsea market.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,566,000
  • Lender: Winchester Savings Bank
  • Landlord: Broadway Capital - Mikael Vienneau
  • Loan Type: Refinance
  • Loan Terms: 5 year fixed-rate @ 5.375%

The lender for this transaction was Winchester Savings Bank. Broadway Capital, with Mikael Vienneau representing their interests, acted as the landlord. The loan provided was a refinance, with terms set at 5 years fixed-rate with an interest rate of 5.375%.

Players

WB
Winchester Savings Bank
LENDER
Mike Vienneau
Mike Vienneau
11 deals$45.5M volume
LANDLORD

Details

FINANCED
IMAGE: Mikael Vienneau DATE: 12/27/2022 ADDRESS: 783 Broadway, 71 Chester & 748 Broadway MARKET: Chelsea, MA ASSET TYPE: Multifamily ~ SF: 10,600 LENDER: Winchester Savings Bank LANDLORD: Broadway Capital - Mikael Vienneau LOAN AMOUNT: $2,566,000 LOAN TYPE: Refinance LOAN TERMS: 5 year fixed-rate @ 5.375%

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$2,566,000.00

Monthly NOI$17,106.67
Monthly Debt Service$16,218.87
Change in Cash Flow$0.00
Refinance Proceeds$0.00