cindim
42 Posts |
 Posted - 07/28/2008 : 2:11:12 PM
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Hello,
I have a potential project in Cambridge, MA. It's a construction of a 16-unit condo complex near Central Square in Cambridge w/underground parking.
I have joint-ventured with a builder for this project. The total cost for the project is 3.2m, including land and soft costs. Based on comparables in the area,
conservatively the total gross sell-out is 6.2m. It could well be 20% more than that, as I've based the comps against non-new construction. (Most condos
in the area are renovated 3-families that were built in the early 1900s.) The total cost/completed value ratio comes to 52%. Let me know if this is a project
you would consider funding. We can put down something in the low 6 figures to "get our skin" in the game. I'd be willing to discuss a joint-venture situation
with the lender.
Please call me at 508-746-5363.
*If i am not in the office or on the phone please ask for my processor Cindi.
Mark Kelley
PLATINUM MORTGAGE GROUP |
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