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Fleyva Properties Secures $9.4M Construction Loan For Luxury Homes In Monmouth County

0 West Farms Road

Development Site
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Summary

Loan
NEW JERSEY
Development Site

The development site located at 0 West Farms Road in Monmouth County is the focal point of a recent transaction involving a construction loan. The loan amount secured for this project is $9,443,677. The loan type is specifically a Construction Loan, with funding set at 85% LTC and 75% LTARV. The lenders involved in this deal are Veronique Hut from Stackd Capital. The landlords associated with this transaction are Vazgen Sevumyants and Nicole Cruz from Fleyva Properties.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $9,443,677
  • Lender: Veronique Hut - Stackd Capital
  • Landlord: Vazgen Sevumyants & Nicole Cruz - Fleyva Properties
  • Loan Terms: Funded 85% LTC and 75% LTARV

Fleyva Properties, a family office that focuses on large single-family subdivisions and ground-up construction, spearheaded this project. The construction loan secured is for a nine-lot subdivision, which will include eight luxury homes, each spanning 5,000 square feet and featuring six bedrooms and 5.5 bathrooms. Additionally, one lot is designated as a stormwater basin. The development will offer three distinct home models, ushering in a new era of luxurious living and construction standards in Monmouth County, NJ.

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Stackd Capital's profile picture
Stackd Capital
Stackd Capital

Details

Deal Summary
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FINANCED
IMAGE: Veronique Hut, Vazgen Sevumyants & Nicole Cruz DATE: 04/26/2024 ADDRESS: 0 West Farms Road MARKET: Monmouth County ASSET TYPE: Development Site LENDER: Veronique Hut (@Vhut_) - Stackd Capital (@StackdCapital) LANDLORD: Vazgen Sevumyants & Nicole Cruz (@RewithNic), (@BuildwCruz) - Fleyva Properties (@FleyvaProperties) LOAN AMOUNT: $9,443,677 LOAN TYPE: Construction Loan LOAN TERMS: Funded 85% LTC and 75% LTARV NOTE FROM LANDLORD: Fleyva Properties, a family office specializing in large single-family subdivisions and ground-up construction, just closed on a construction loan for a nine-lot subdivision. This project includes eight luxury homes, each 5,000 sq ft with six bedrooms and 5.5 baths, alongside one lot designated as a stormwater basin. Three distinct models will be built, marking a new era of construction and luxury living in Monmouth County NJ

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Address0 West Farms Road

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