Englewood-based Kennedy Funding on Tuesday announced it helped secure funding for a $2 million land deal in Suffern, New York.
Kennedy Funding’s Chase Wolfer quickly helped Powder Horn LLC get funding for the purchase of three undeveloped residential lots totaling 5.951 acres.
Located at 32–34–36 Powder Horn Drive, the property is zoned for three single–family
homes or may be used to build one or three single–family homes.
homes or may be used to build one or three single–family homes.
The asset is easily accessible by car from Route 202 or from the Palisades Interstate Parkway and located just six miles from the Suffern New Jersey Transit station to Hoboken, and a six–minute drive from the Route 202 & Viola Road bus stop to the Port Authority.
“When we’re evaluating a deal, we look beyond the standard paperwork—such as a
clean title, environmental report, and recent appraisal, among other materials,” Wolfer
said. “It’s about walking in step with the borrower and imagining the possibilities
together.”
clean title, environmental report, and recent appraisal, among other materials,” Wolfer
said. “It’s about walking in step with the borrower and imagining the possibilities
together.”
Kennedy Funding, a bridge–loan lender known worldwide for financing land deals other lenders won’t touch land loans inside and outside the United States. While categorically excluded by all traditional banks and by most private lenders, brokers and others in the commercial real estate industry know that Kennedy Funding can close on raw land, and often in a fraction of the time it takes for other lenders to close.
With more than $4 billion in closed loans to date across multiple project types, including raw land, the firm’s track record more than demonstrates the firm’s expertise and experience in the private lending realm.
“Accessing capital is the most crucial step to success,” Chase Wolfer said. “It’s my honor to be a part of that process for Powder Horn.
Wolfer emphasized that this type of deal is a prime example of what Kennedy does
best: help borrowers quickly access the funds they need when traditional financial
institutions are not an option.
