|(N/A)||5/27/16||Construction - Residential||$140,000.00 USD||1 year||50%||844-742-9900 ext. 710|
13 Diana Ridge Road, Highland, NY
13 Diana Ridge Road
|Property Value||Total First Lien Construction Mortgage|
|$279,000.00 (built on Contract)||$140,000.00|
Established builder in Ulster County, NY was seeking a more cooperative lending partner for the construction of approximately 3 new homes per year. BLG was able to find an investor who has a good working knowledge of construction. Because of that “connection,” we were able to put together a Construction Draw Schedule that made good sense for both the builder and the the investor.
We are already well into a subsequent loan for the same builder – with the same investor.