Titan Capital Provides $5.75 Million Construction Loan For Multifamily Development In Sag Harbor
FINANCED
$5,750,000
New York
See Similar DealsMultiFamily14,000 SF
Financed 12/29/2025
FINANCED
Titan Capital Provides $5.75 Million Construction Loan For Multifamily Development In Sag Harbor
MultiFamily14,000 SF
Financed 12/29/2025
Summary
Asset Type:MultiFamily
Price Per Square Foot:$410
Total Square Footage:14,000 SF
Transaction Type:Loan
The asset involved in this transaction is a multifamily development located in the Hamptons, specifically in Sag Harbor. The total square footage of the property is 14,000. The property is being financed through a construction loan amounting to $5,750,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,750,000
- Loan Type: Construction
- Loan Terms: 18 Months
- Lender: David Saferstein, Matthew Job, Ira Saferstein & Zach Waldman - Titan Capital
The loan will facilitate the efficient progression of the luxury multi-townhouse development project, allowing the borrower to achieve project completion and subsequent sellout effectively. The lending parties are represented by David Saferstein, Matthew Job, Ira Saferstein, and Zach Waldman from Titan Capital.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,750,000.00
Monthly NOI$38,333.33
Monthly Debt Service$36,343.91
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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