Stormfield Funded a $2,567,500 Multifamily Bridge Loan in New York, NY

Stormfield Capital funded a $2,567,500 multifamily bridge loan to support the acquisition and renovation of a 6,000 square foot mixed-use building in the East Village neighborhood of Manhattan. The 11-unit building includes six free-market residential units and five rent-regulated units, with a $400,000 renovation scope in the pre-construction phase, permits pending at the time of closing. The loan was structured at 58% LTV, with collateral coverage underwritten to hold independent of renovation completion. The sponsor’s substantial verified equity contribution, a fixed-price general contractor contract, and the property’s East Village location supported Stormfield’s decision to fund this complex value-add acquisition