The asset involved in this transaction is a single-family home located at 212 Willow Drive in Little Silver. The property spans 2,759 square feet and was acquired at a purchase price of $1,175,000. The overall project budget includes a renovation and construction budget of $750,000, with a projected resale value of over $2,950,000.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $1,950,000
• Address: 212 Willow Drive, Little Silver
• Equity Provided: $532,250 - MIOYM Equities
• Lender: MIOYM Commercial Capital - Robert Costomiris
• Broker: Justin Nathanson - Keller Williams Realty
• Loan Type: Construction
• Loan Terms: 1 year

This transaction showcases the collaboration between MIOYM Commercial Capital, which provided the equity funding, and a premier New Jersey development group, which secured the debt portion of the financing. The effort exemplifies strategic private capital's role in revitalizing high-end properties in the region, as the development team aims to enhance the asset significantly through extensive renovations and the addition of new living space.