Amount: $8,300,000 • CLTV: 67% • Rate: 5.75%
Property
The parcel sits on half an acre and can accommodate a 4500 square foot home.
Scenario
Park 49 facilitated financing for the acquisition and development of a parcel situated in Southampton, NY. The borrower’s objective is to construct a classic Hampton’s style home and subsequently sell the property to a buyer in search of a summer residence near the beach.
