Updated Dec 4, 2024
27 East River, LLC Acquires Development Site In Providence, RI For $2.3M
27 East River Street
$2,300,000
Building Size
—
Asset Type
Development Site
Closing
Nov 10, 2023
About this deal
AI
The development site located at 27 East River Street in Providence, RI has been sold in a recent transaction. The property spans over 2 acres and offers waterfront views. The sale of this site was finalized by Hayes & Sherry, a member of the Cushman & Wakefield alliance, on behalf of the seller, RS Acquisitions, LLC, to the buyer, 27 East River, LLC. The transaction price for this sale was $2,300,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,300,000
- Address: 27 East River Street, Providence, RI
- Market: Providence, RI
Bill Greene and Matthew Fair from Hayes & Sherry represented both parties as brokers in this transaction. The buyer, 27 East River, LLC, has plans for residential development on this prime waterfront site. This sale marks a successful deal for all the involved parties.
Players
Providence Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93