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27 East River Street

27 East River, LLC Acquires Development Site In Providence, RI For $2.3M
SOLDDevelopment Site

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

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

Bill Greene

Hayes & Sherry

Broker

$2.3M

vol

1 deal

Broker
AL
Acquisitions LLCSeller

Providence Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

Loading comparables…

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