Kennedy Funding Secures $2 Million Loan for Suffern Residential Development

Kennedy Funding, a direct private lender based in New Jersey, recently completed a significant transaction by securing a $2 million loan for the purchase of undeveloped land in Suffern, New York. This financing was essential for the local mortgage broker who approached them with a pressing need. Chase Wolfer, a skilled funding specialist at Kennedy Funding, who also balances his duties as a firefighter, took the lead in delivering this vital funding.

In a decision that highlights Kennedy Funding's commitment to facilitating land deals that many traditional lenders might overlook, Wolfer successfully financed the acquisition of three residential lots totaling 5.951 acres. These lots, located at Powder Horn Drive, are set to be developed into single-family homes, an attractive proposition given the area's accessibility and appeal. Just six miles from the Suffern New Jersey Transit station, the location is ideal for commuters traveling to midtown Manhattan and is surrounded by recreational parks such as Sterling Forest and Harriman State Park, offering a blend of suburban convenience and outdoor adventure.

Kennedy Funding has carved out a unique niche in the land development financing sector, especially for raw land purchases. As Wolfer notes, the situation encountered in Suffern is precisely what Kennedy Funding excels at: granting quick access to capital when borrowers face challenges with conventional financing routes. Since its inception in 1987, the company has provided funding to a diverse clientele, establishing a reputation for flexibility and creativity in financing options.

"Our approach goes beyond standard documentation; we prioritize understanding our borrower's vision and requirements," Wolfer explains. This ability to envision possibilities where others see roadblocks has earned Kennedy Funding a trusted position in the lending community. They often engage in discussions with borrowers about potential outcomes and project viability, which allows them to take calculated risks that banks are hesitant to embrace.

The President and CEO of Kennedy Funding, Kevin Wolfer, emphasizes the examined potential of these properties, stating, "Given the location of these three parcels, the value of building here is clear." This acknowledgment of the local market potential demonstrates their strategic foresight and desire to support the real estate development that benefits communities.

With a portfolio boasting over $4 billion in completed loans, Kennedy Funding has become synonymous with expeditious closings and a willingness to finance land deals other lenders would typically turn away. The firm not only operates domestically but also extends its services globally, confirming its status as a preferred partner for real estate investments across various markets.

Chase Wolfer encapsulates the firm's ethos succinctly, stating, "Accessing capital is the most crucial step to success. It's my honor to be part of that process for Powder Horn." Indeed, Kennedy Funding's robust approach to land loans stands as a testament to its resilience and expertise in navigating the complexities of real estate investment.

For further inquiries or information, feel free to visit Kennedy Funding's official website.

About Kennedy Funding

Kennedy Funding is a leading global direct private lender specializing in bridge loans for commercial properties and land acquisition. Their expertise extends to development projects, workouts, and foreclosures, among others. The firm prides itself on closing over $4 billion in loans, providing flexible funding options from $1 million to more than $50 million within an expedited timeline. Their innovative financing solutions enable successful real estate ventures across the United States and abroad.