Stepping Stone Capital Provides $11M Renovation Loan For Mixed-Use Property In New Haven

The property located at 129 Church Street in New Haven, CT has been involved in a recent closed transaction. This mixed-use asset spans approximately 90,000 square feet and has undergone a renovation to convert it from an office space to 92 residential units with office/retail space.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $11,000,000

The loan for this transaction was provided by Stepping Stone Capital Partners, represented by Russell Feder & Menachem Liberow. The loan amount totaled $11,000,000 and it was a renovation loan specifically for the conversion project. The loan terms spanned 24 months, with the option to extend for two additional six-month periods.

The Shaer Group of Companies, led by Isaac Shaer, served as the landlord in this transaction. Isaac Shaer was instrumental in the conversion project as the property's owner.

Stepping Stone Capital, as an active lender of add value renovation and construction loans, encourages interested parties to submit new loan submissions to [email protected] or call 646-693-8185.