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Loan Amount
$15,530,000
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LTV
52%
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Term
24 Months
Transaction Overview
Stormfield Capital funded a $15,530,000 bridge loan to support a sponsor’s acquisition of a 123-unit multifamily portfolio spanning the West Village and Chelsea neighborhoods of Manhattan. The portfolio was acquired for $22,000,000, generating approximately $1,200,000 in as-is net operating income, with 95% occupancy across a rent roll comprising rent-stabilized, rent-controlled, and free-market units. The 24-month facility incorporated $1,100,000 in reserves and was structured at a conservative 51% LTV. The portfolio’s stable occupancy, diversified rent structure, and the sponsor’s substantial existing investment portfolio reflect the kind of well-collateralized, capital-preservation-focused transaction Stormfield looks to fund.
