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Loan Amount
$1,780,000
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LTV
64.86%
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Term
12 Months
Transaction Overview
Stormfield funded a $1,780,000 fix and flip loan for the purchase and renovation of a multifamily property in Weehawken, New Jersey. The 12-month loan provides the capital to acquire the building and complete the renovation plan. The loan is structured at 64.86% of the $2,744,500 underwritten value. Underwriting weighed the renovation scope and the local Weehawken residential market. For brokers and borrowers, the deal shows how Stormfield finances the acquisition and renovation of small multifamily buildings in New Jersey, with a single loan covering both the purchase and the planned improvements.
