First Dunes Development 839, LLC Secures $2.83M Loan For Westhampton Beach Retail

The property involved in the transaction is an oceanfront retail asset located at 839 Dune Rd, Westhampton Beach, NY. The loan amount for this property is $2,830,000.00. The property spans 14,375 square feet and boasts 80 feet of beach frontage. The sponsor, First Dunes Development 839, LLC, intends to transform the property into a luxurious residence featuring 5 bedrooms, 6 bathrooms, a two-car garage, and a 30-foot swimming pool. The future residence will also include large paneled windows, multiple decks with ocean views, and high-end finishes. Situated near Westhampton Beach Village, the property offers convenient access to top-rated dining options, shops, and entertainment venues.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $2,830,000.00
• Market: Westhampton Beach
• Borrower: First Dunes Development 839, LLC

In May of 2019, Emerald Creek Capital provided the $2,830,000 acquisition and building loan for the property on 839 Dune Rd in Westhampton Beach, NY. The three-time repeat borrower of Emerald Creek, First Dunes Development 839, LLC, plans to redevelop the property into a luxury residence. The sponsor aims to create a stunning home with spacious rooms, stunning finishes, and breathtaking views of the Atlantic Ocean from multiple decks. The property's transformation will offer a remarkable living experience, further enhancing the appeal of the beachfront location.