Titan Capital Provides $3M Construction Loan For Luxury Development Site In Southampton
FINANCED
$3,000,000
Development Site7,300 SF
Financed 09/03/2025
FINANCED
Titan Capital Provides $3M Construction Loan For Luxury Development Site In Southampton
Development Site7,300 SF
Financed 09/03/2025
Summary
Asset Type:Development Site
Price Per Square Foot:$411
Total Square Footage:7,300 SF
Transaction Type:Loan
The property asset involved is a development site located in Southampton, within The Hamptons market. It has a total square footage of 7,300 and is associated with a construction loan amounting to $3,000,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,000,000
- Loan Amount: $3,000,000
- Loan Type: Construction
- Lender: David Saferstein, Zach Waldman, Matthew Job & Ira Saferstein - Titan Capital
The deal involved a refinance and construction loan provided by Titan Capital, enabling the sponsor to complete a luxury single-family residence that includes six bedrooms, a fully finished basement, a heated gunite pool, a tennis court, and an additional pool house.
Players
BROKERAGE
LENDER
LENDER
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,000,000.00
Monthly NOI$20,000.00
Monthly Debt Service$18,962.04
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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