Loan amount
$1,625,000
Loan type
Purchase {Rent&Hold}
As-Is Property Value
$3,125,000 {PP:$3,125,000}
LTV
52% {LTV}
Property type
Other Commercial
Borrower Details
Credit score
691
Deal experience
4 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Cape May
State
New Jersey
Loan Details
Purchase price
$3,125,000
Down payment
$1,500,000
Additional Loan Information
We are purchasing a Vineyard in Cape May that has been operational for 25 years and adding an additional parcel which we already own to expand production and put a wedding/venue event space. The purchase price of the vineyard is 3125000 (including equipment and inventory) and we already own the additional parcel which is about 1.2M. We are doubling production this year which 60% will be ready by spring. We want to add a kitchen to the Cape May Vineyard to generate additional income.
Status
Created
August 31, 2023 - 6:30pm

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