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204 Westminster Street, Pro...

Fantini & Gorga Brokers Secure $2.5M Loan For Mixed-Use Property On Westminster Street In Providence, RI
FINANCEDMixed-use

Fantini & Gorga Brokers Secure $2.5M Loan For Mixed-Use Property On Westminster Street In Providence, RI

204 Westminster Street, Providence, RI, USA

$2,500,000

$1,785/SF

Building Size

1,400 SF

Asset Type

Mixed-use

Closing

Mar 11, 2021

AI

204 Westminster Street in Providence, RI, has recently been involved in a closed transaction. The property is a mixed-use asset, and the deal was facilitated by brokers Derek Coulombe and Lindsay Feig of Fantini & Gorga. The transaction date was on March 12, 2021. The loan amount for this deal was $2,500,000.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $2,500,000
  • Address: 204 Westminster Street
  • Market: Providence, RI

Derek Coulombe and Lindsay Feig from Fantini & Gorga were the brokers involved in this transaction. They represented the parties in the deal. The loan amount of $2,500,000 played a significant role in this closed transaction.

Players

Derek Coulombe

Fantini & Gorga

Broker

$65.9M

vol

7 deals

Broker

Providence Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

6.35%

Cash-on-Cash

-1.81%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93