Fleyva Properties Secures $9.4M Construction Loan For Luxury Homes In Monmouth County

The development site located at 0 West Farms Road in Monmouth County is the focal point of a recent transaction involving a construction loan. The loan amount secured for this project is $9,443,677. The loan type is specifically a Construction Loan, with funding set at 85% LTC and 75% LTARV. The lenders involved in this deal are Veronique Hut from Stackd Capital. The landlords associated with this transaction are Vazgen Sevumyants and Nicole Cruz from Fleyva Properties.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $9,443,677
• Lender: Veronique Hut - Stackd Capital
• Landlord: Vazgen Sevumyants & Nicole Cruz - Fleyva Properties
• Loan Terms: Funded 85% LTC and 75% LTARV

Fleyva Properties, a family office that focuses on large single-family subdivisions and ground-up construction, spearheaded this project. The construction loan secured is for a nine-lot subdivision, which will include eight luxury homes, each spanning 5,000 square feet and featuring six bedrooms and 5.5 bathrooms. Additionally, one lot is designated as a stormwater basin. The development will offer three distinct home models, ushering in a new era of luxurious living and construction standards in Monmouth County, NJ.