Stormfield funded a $2.6M Hard Money Fix and Flip Loan in Sag Harbor, NY

Stormfield funded a $2,629,775 loan for an experienced repeat sponsor to purchase and renovate a single-family investment property in Sag Harbor, New York. The site is currently improved with a 1,600-square-foot house and a detached garage ADU. The $1,643,000 purchase is paired with a $1,200,000 renovation budget, targeting a $4,046,000 after-repair value. The loan is structured at 65% of the after-repair value, financing the large majority of project cost. Underwriting weighed the substantial scope and local resale demand, with the sponsor’s track record supporting the exit. The deal shows Stormfield’s high-leverage renovation capabilities.