Fantini & Gorga Arranges $1.8 Million for a Brand New Gloucester Condominium


BOSTON- Fantini & Gorga announced the placement of $1,800,000 financing of a brand-new, luxury, single floor living condo complex featuring six units – many with ocean views, called Good Harbor Beach Condominiums.

Derek Coulombe, Senior Managing Director and Lindsay Feig, Director of Fantini & Gorga structured and placed the financing on behalf of the sponsor. Coulombe stated, “we are very pleased to be able to place this short term financing that features interest only payments, partial releases with loan pay down and a low market rate.

The financing was placing with a local bank who understood the location, the market and the quality of the sponsors. The lender was able to close quickly and did not charging a premium for the short term nature of the loan.”

Located at 78 Thatcher Road in Gloucester, the condos are located within walking distance to Good Harbor Beach and Long Beach. Units have 2 bedrooms and 2.5 bathrooms and feature a chef’s kitchen, a gas fireplace, high ceilings, wrap-around windows and a deck. Each unit includes an office, laundry room and an attached two car indoor garage with storage space.

Community features include an elevator, a roof deck that provides views of the Atlantic Ocean and Good Harbor Beach and a common gym. Four of the condominiums have sold and the other two are still for sale. (IANS)