Updated Sep 16, 2026
Titan Capital Provides $6.6M Construction Loan For Development Site In Water Mill
$6,600,000
Building Size
—
Asset Type
Development Site
Closing
Sep 10, 2026
About this deal
AI
The asset involved in this transaction is a development site located in Water Mill, specifically intended for the construction of two high-end single-family residences. The total loan amount secured for this project is $6,600,000, classified as a construction loan with terms spanning 18 months.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $6,600,000
- Loan Type: Construction
- Loan Terms: 18 Months
- Lender: Titan Capital
- Key Individuals: David Saferstein, Zach Waldman, Matthew Job, Ira Saferstein
The lending parties representing this transaction are David Saferstein, Zach Waldman, Matthew Job, and Ira Saferstein from Titan Capital, facilitating the acquisition and construction loan necessary for the sponsor to advance their residential development in the Hamptons.
Players
Market Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.40%
Cash-on-Cash
-0.69%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93