Chris Stout Lands $5.8M Construction Loan For Multifamily Development In Staten Island

The asset involved in this transaction is a multifamily development comprising two separate sites located at 188 Pleasant Plains Avenue and 33 Armour Place in Staten Island, NY. The total loan amount for acquisition and construction provided by the lender is $5,800,000, aimed at facilitating the development of ten luxury townhomes.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $5,800,000
• Lender: Michael Tsor - Broadview Funding
• Landlord: Chris Stout
• Loan Type: Construction
• Market: Staten Island, NY

The transaction features Michael Tsor representing the lender, Broadview Funding, while Chris Stout acts as the landlord for this multifamily property development. Broadview Funding has also indicated that they actively fund various types of loans, including bridge, construction, and DSCR loans across multiple states, including New York, New Jersey, Pennsylvania, Connecticut, and Florida.