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New Construction Loan

Single-Family | New York

Stormfield funded a $5.1M New Construction Loan in Water Mill, NY

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Luxury single-family home in Water Mill, NY

  • Loan Amount

    $5,092,000

  • LTV

    64.93%

  • Term

    24 Months

Transaction Overview

Stormfield funded a $5,092,000 bridge loan for an experienced real estate investor to fund the construction of a 5,483-square-foot luxury spec home in Water Mill, New York. The financing supports the build through completion, positioning the finished home for a sale once construction is complete and the property is ready for market. The loan is structured at approximately 64.9% LTV over a 24-month term. Underwriting weighed the construction timeline and local buyer demand for luxury homes, with conservative leverage and the sponsor’s experience supporting the exit. The deal reflects Stormfield’s disciplined approach to luxury spec construction lending.

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Wesley W. Carpenter - Stormfield Capital

Wesley W. Carpenter

Co-Founder & Partner

Wesley Carpenter is a Co-Founder and Partner of Stormfield Capital. He leads the firm’s investment strategy and portfolio management, serves on both the management and investment committees, and plays a central role in credit and risk oversight across the platform. Under his leadership, Stormfield has deployed over $2 billion, spanning the origination, acquisition, and asset management of commercial and residential bridge loans.

Wes brings more than 15 years of experience in real estate credit and structured finance. Prior to founding Stormfield, he served as a Vice President at Greenwich Associates, a boutique financial services consultancy, where he advised senior executives at commercial and investment banks on balance sheet optimization and the adoption of structured credit strategies. He began his career in Corporate Development at Illinois Tool Works (NYSE: ITW), focusing on mergers and acquisitions and strategic growth initiatives across the firm’s global industrial portfolio.

He holds a B.S. from Fairfield University and an M.B.A. from Binghamton University.