WAC funds $1,400,000 Bridge Loan in Greenwich, CT

May 13,2025: Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $1,400,000 bridge loan to a luxury home builder in Greenwich, Connecticut with the loan proceeds to be used towards the demolition and construction of a new 10,000 square foot house in an exclusive enclave of Greenwich, Connecticut. The loan is fully secured by a blanket second mortgage on three luxury properties in Greenwich, Connecticut with a low leverage LTV of approximately 33%.

The sponsor is one of WAC’s many multiple repeat borrowers who has partnered with WAC on numerous renovation and construction projects in Greenwich over the last several years. The borrower currently has several development projects in Greenwich that are in progress and WAC is providing short term bridge financing for the sponsor on many of these projects. WAC’s new loan origination will be paid off in full later this summer from the proceeds of the sale of a luxury condominium in downtown Greenwich that the sponsor is in the midst of renovating.