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Loan Amount
$698,750
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LTV
65%
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Term
12 Months
Transaction Overview
Stormfield Capital funded a $698,750 bridge loan to support the acquisition of a 0.37-acre development site in Staten Island, New York, currently improved with a single-family residence and subject to filed plans to subdivide the parcel into four individual building lots. The repeat Stormfield sponsor, a locally active investor with direct market knowledge and an established track record, required bridge financing to secure the site while entitlement approvals progress. The loan was structured at 65% LTV against a $1,075,000 purchase price. The sponsor’s repeat borrower status, local market expertise, and well-qualified financial profile supported the lending decision.
