Cornerstone Capital Of NY Provides Construction Loan For Ground Up Spec Home In Amagansett

A construction loan was provided by @CornestoneCapitalOfNY for a ground-up spec home in Amagansett, located at 96 Bluff Rd. The development site has a BSF (Buildable Square Footage) of 5,745. The loan amount secured for this project was $4,095,000, with favorable construction terms. The loan terms include 24 months of interest-only payments and a loan-to-cost ratio (LTC) of 80%.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $4,095,000
• Address: 96 Bluff Rd.
• Market: Amagansett
• BSF: 5,745
• Landlord: Peter Zhang

Russell Nova and Alexander Nemirovskiy, representing @CornerstoneCapitalOfNY, played a crucial role in securing the construction loan. They worked closely with the realtor, developer, general contractor, and lender to ensure a seamless and cost-effective process. For any inquiries or to discuss building projects in the Hamptons, interested parties can contact Russell Nova and Alexander Nemirovskiy.

For Russell Nova, the Principal, the contact details are:

• Email: Russell@CSG-NY.com
• Cell: 917-559-1820

Alexander Nemirovskiy, the Credit Officer, can be reached at:

• Email: [email protected]
• Cell: 347-751-5332