Amount: $8,300,000 • CLTV: 67% • Rate: 5.75%
Property
A 0.5-acre residential parcel situated in Southampton, NY, engineered to accommodate a single-family residence of approximately 4,500 square feet. Park 49 structured $8,300,000 in senior construction financing to support the ground-up development and market delivery of the prime luxury asset.
Scenario
The sponsor acquired a premium 0.5-acre parcel in the exclusive coastal market of Southampton, NY, with plans to construct a luxury 4,500-square-foot traditional Hamptons estate aimed at summer home buyers. Seeking high-leverage execution to finance both land acquisition and vertical construction without equity fragmentation, the client retained Park 49. Navigating tight seasonal market timelines and high-tier underwriting parameters, Park 49 arranged a tailored $8,300,000 construction facility representing 67% CLTV. The financing package provided flexible draw schedules and secured an attractive 5.75% interest rate, giving the builder the necessary capital runway to execute a high-finish build and capture peak luxury market liquidity upon completion.