Celestial Fund Provides $10.25M Refinance For Development Site In Delray Beach

The property involved is a development site located in Delray Beach, offering approximately 7,200 square feet of space with 9,000 building square footage. The asset is a 3-story modern estate positioned on 75 feet of prime Intracoastal Waterway frontage and is approximately 90% complete, with anticipated delivery in mid-summer. The residence includes 6 oversized bedrooms and 7 designer bathrooms, along with a dedicated third-floor wellness center featuring a dry sauna, steam room, and gym, designed to maximize 180-degree Intracoastal views and ocean vistas from an expansive rooftop terrace.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $10,250,000
• Loan Type: Refinance
• Loan Terms: 30 Months
• Consultant: Eugene Rutenberg - Celestial Fund
• Market: Delray Beach
• Asset Completion: Approximately 90%
• Bedrooms: 6
• Bathrooms: 7
• Wellness Center: Includes dry sauna, steam room, and gym
• Rooftop Terrace: Expansive with ocean views

Celestial Fund successfully financed the construction of this hyper-luxury custom home tailored for business investment purposes and designed for a discerning buyer with sophisticated tastes. The firm is known for delivering results in senior loans, mezzanine debt, and preferred equity structured finance nationwide.