Seena Talas & Robert Talas Close $4,925,000 Construction Loan For Luxury Development In Tenafly
$4,925,000
Building Size
—
Asset Type
Single Family Residence
Closing
Aug 5, 2026
AI
A construction loan was closed for a luxury single-family development in Tenafly, New Jersey. The loan amount was $4,925,000, structured as an 18-month ground-up construction loan, financing 65% of the property acquisition along with 100% of the construction budget.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $4,925,000
- Lender: Seena Talas & Robert Talas - Flatiron Realty Capital
- Loan Type: Construction
- Loan Terms: 18 Month Ground Up Construction Loan
The borrower acquired the existing property with plans to develop a new luxury residence by tearing down the current structure. Flatiron Realty Capital provided a custom-tailored financing solution through its in-house underwriting and servicing platform, ensuring the borrower had the necessary capital for both acquisition and construction.
Players
Market Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.22%
Cash-on-Cash
-0.92%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93