Zach Waldman & David Saferstein Of Titan Capital Provides $6 Million Construction Loan In Bridgehampton
$6,000,000
$545/SF
Building Size
11,000 SF
Asset Type
Development Site
Closing
Jan 1, 2025
AI
The property involved is a development site located South of the Highway in Bridgehampton within The Hamptons market. The asset size is approximately 9,500 square feet with a total buildable square footage of 11,000 square feet. The transaction includes a construction loan valued at $6,000,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $6,000,000
- Loan Type: Construction
- Loan Terms: 24 Month Construction Loan
- Location: South of the Highway in Bridgehampton
- Market: The Hamptons
- Asset Size: 9,500 SF
- Total Buildable Size: 11,000 SF
- Lender: Zach Waldman & David Saferstein - Titan Capital
Zach Waldman and David Saferstein, representing Titan Capital, provided the construction loan that enables the sponsor to proceed with building a luxury single-family residence featuring 9 bedrooms, a fully finished basement, a heated gunite pool, a tennis court, and an additional pool house.
Players
Market Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93