Residential Condominium Development Opportunity at the Adams Spinning Mill, Adams, MA., a proposed mixed-income, multi-family complex. $4,950.000.
2- 3 story mill buildings totaling 225,189 sf situated on 8.04 acre site comprised of two separately deeded abutting parcels. The largest building, the Spinning Mill, at 7 Hoosac St., contains 182,790 sf is vacant, 5 Hoosac St., the Cotton Mill, contains 42,399 sf is used for storage.
Proposed development will contain 212 - 219 units depending on architect's design. All units will be separately metered. Owner has received preliminary approvals for State and Federal Historical Tax Credits. Local approvals are in place.
5 & 7 Hoosac, Adams, MA, 01220
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
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