News: Finance
Posted: July 8, 2016

Spiegel of PHH Home Loans arranges $18.6 million construction loan for 10 Farnsworth St. in the Seaport

10 Farnsworth Street - Boston, MA 10 Farnsworth Street - Boston, MA
local markets, expertise in different property types, and an understanding of the market fluctuations, we have established ourselves as the professionals of the industry. We take pride in the ability to add value to each transaction by working with some of the top national people in the real estate market. In summary, while some would say that the use of a mortgage broker is an additional cost to a project, I would say that it really is a value-added to the transaction. The range of lenders, the range of product types, and most of all, the expertise of the mortgage broker in structuring the deal and maximizing the loan dollars is well worth the “cost” that translates to more dollars and a better deal. Sidney Spiegel is vice president, commercial division at PHH Home Loans NE, Waltham, Mass. Sidney Spiegel, PHH Home Loans

Boston, MA Sidney Spiegel, vice president of the Commercial Division of PHH Home Loans, arranged an $18.6 million condo construction loan for 10 Farnsworth St. in the Seaport area of the city. The loan will finance construction of 10 condominium units and also provide underground parking for residents.

The financing was provided by a major regional bank that saw the value of the project and understood the developer’s needs.

The units will range in size from 2,000 s/f to the penthouse which will be 4,300 s/f. In addition, the building will feature a shared roof deck, high end appliances and will emphasize sustainable design and construction.

Tags: Finance
Print
Share
Reprint
Previous Story Next Story
READ ON THE GO
DIGITAL EDITIONS
Browse Now
Subscribe
Quick Hits
Greystone provides $215.5 million in HUD financing for Care New England Health System in R.I.
Columns and Thought Leadership
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick

Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick

Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
Massachusetts real estate transfers over $1 million face new tax rules as of November 1st - by Daniel Meyer

Massachusetts real estate transfers over $1 million face new tax rules as of November 1st - by Daniel Meyer

Attention to owners of real estate in the Commonwealth (and the title companies and other professionals who advise them), the Massachusetts Department of Revenue (the “DOR”) recently adopted a new “millionaire’s tax” via 830 CMR 62B.2.4
Are appraisers on the same page as the assessor? - by Richard Seman

Are appraisers on the same page as the assessor? - by Richard Seman

The purpose of this article is to address problematic or confusing issues which may help assessors and appraisers to better understand how to value real estate for tax assessment purposes.
The focus on price per s/f compared to the comparable sales used in the appraisal report - by Dennis Chanski

The focus on price per s/f compared to the comparable sales used in the appraisal report - by Dennis Chanski

Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.