28 Oct CT Real Estate Investor Secures $90,000 Commercial Loan with the Help of WAC
October 28, 2014: Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $90,000 commercial loan for a real estate investor in Cromwell, Connecticut. The loan proceeds are being used by the investor to complete the construction of a “spec” house in Cromwell, Connecticut in which the borrower has already obtained a Certificate of Occupancy on this house from the town. Specifically; the proceeds will be used to finish the flooring; window treatments and other ancillary minor items in the house. The house is located in an upper middle class section of Cromwell in which the other homes in the neighborhood are selling in the $600,000 to $750,000 range. The borrower expects to finish the construction within the next few months and have the house sold by next Spring to pay off this loan. This loan was funded by one of WAC’s private lenders and is secured by a second mortgage on the property with a very low LTV.
WAC specializes in arranging debt financing for both small businesses and real estate developers/investors and also handles bank workouts for those same clients. You can learn more about WAC by taking a look at their website and Youtube video at worthavenuecapital.com and by contacting WAC’s principal, Michael M. Ciaburri at worthavenuecapital@gmail.com or (203)605-4082. WAC maintains offices in both Guilford and Westport, Connecticut. You can now follow @worthavecapital on Twitter for the latest lending news.