157-163 Chestnut Street

  • $11025000
157-163 Chestnut St, Chelsea, Massachusetts, USA
Closed Deal Loan

157-163 Chestnut Street

157-163 Chestnut St, Chelsea, Massachusetts, USA
  • $11025000
Jeffrey “Jeff” Bowen, Robert Saenz and James Elock broker a $11,025,000 loan for Multi Family property. The deal closed 15 days ago.

Building Info

  • Units: 29
  • Property Type: Multi Family
  • Square Feet: 50450

Location

  • Address 157-163 Chestnut St, Chelsea, Massachusetts, USA
  • City Boston
  • State/county Massachusetts
  • Zip/Postal Code 02150
  • Country United States

Description

LOAN
IMAGE: Cardinal O’Malley, Mike Vienneau & Jeffrey Bowen
DATE: 10/01/2021
ADDRESS: 157-163 Chestnut St
MARKET: Chelsea, MA
ASSET TYPE: Multifamily ~ SF: 50,450 ~ UNITS: 30

LENDER: Enterprise Bank
LANDLORD: 163 Chestnut LLC/Broadway Capital Development – Mike Vienneau and Matt Grosshandler
BROKERS: Realway Realty – Jeff Bowen/ Robert Saenz, Colliers International – James Elcock, Construction – Bald Hill Builders

LOAN AMOUNT: $11,025,000
LOAN TYPE: Construction
LOAN TERMS: 24 month interest only loan @ 3.75%

NOTE: The “Cathedral” development project, located in the heart of Chelsea, is less than 2 miles from downtown Boston. The property, aka St. Stanislaus Church, will be converted into 30 high-end residential condominium units. Bald Hill Builders (@BaldHillBuilders) will be leading the construction effort. 163 Chestnut LLC purchased the property from the Archdiocese of Boston.

Contact

Compare listings

Compare
James Elock
  • James Elock
Loading...