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Loan Amount
$2,741,250
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LTV
55%
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Term
18 Months
Transaction Overview
Stormfield funded a $2,741,250 multifamily value-add loan for a borrower buying and renovating a 21-unit multifamily property in Mount Kisco, New York. The 18-month financing provides the capital to acquire the building and complete a renovation program across the units. The loan is structured at 55% of the $5,000,000 underwritten value. Underwriting weighed the renovation scope and the local Mount Kisco multifamily market, along with the business plan for the property. For brokers and borrowers, the deal shows how Stormfield finances the purchase and renovation of multifamily buildings in New York.
