Updated Oct 28, 2024
Urban Standard Capital Provides $1.75M Construction Loan For SFR In Sag Harbor
8 Jessey Halsey Lane, Sag Harbor, New York 11963, United States
$1,750,000
$602/SF
Building Size
2,903 SF
Asset Type
Single Family Residence
Closing
Dec 22, 2021
About this deal
AI
A construction loan has been secured for a single-family residential property located at 8 Jesse Halsey Lane in Sag Harbor. The property has a total square footage of 2,903 and is owned by DeMarco Development.
Summary of transaction details
- Property Type: Single-Family Residential
- Transaction Amount: $1,750,000
- Market: Sag Harbor
- Lender: Urban Standard Capital
- Loan Type: Construction Loan
- Lender Representatives: Seth Weissman, Jeremy Plofker, Robert Levine, and Bean
- Landlord: DeMarco Development
- Lender Contact Information: For all bridge and construction lending opportunities, email Robert at [email protected] and Jeremy at [email protected]
The construction loan was provided by Urban Standard Capital, with Seth Weissman, Jeremy Plofker, Robert Levine, and Bean representing the lender. This loan will facilitate the development of the property.
Players
Sag Harbor Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.06%
Cash-on-Cash
-2.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93