Construction Lender Needed

[David Weintraub]

Borrower is looking for $3Mil loan for construction.  They have experience with new construction.  Building 2 new homes on a 6 acre plot in Westchester NY that is being subdivided to two.  

Acquisition for land is $1.5MM

Both houses 6000 s/f, with a listing price of $3.3MM and $2.8MM

60% LTV.

Term of loan is 24 months.

They're not looking to pay north of 9.9% for a loan.

If you think this is in your wheelhouse, email me.