News: Financial Digest

Worth Avenue Capital, LLC closes $4.2 million commercial loan to home builder and developer in Greenwich, CT

Greenwich, CT Worth Avenue Capital, LLC (WAC) has closed a $4.2 million commercial loan to a luxury home builder and developer that specializes in the construction and renovation of existing homes in town. The loan proceeds were used to purchase adjoining properties on Locust St. These adjoining townhouse properties are located within walking distance to Greenwich Ave. in a downtown location.

The loan is secured by a blanket first mortgage on the adjoining townhouse properties in town as well as a blanket second mortgage on a luxury home on Pecksland Rd. with an underlying LTV of approximately 60%.
The borrower is a multiple repeat customer of WAC who has handled all of their previous borrowings with WAC as agreed.

The company will undertake a renovation to both of the townhouses on Locust St. and will then sell the townhouses upon the completion of the renovations of both properties. There is a dearth of townhouse inventory in town. As such, the borrower expects that the demand to purchase these fully renovated properties on the open market will be robust.

WAC’s short-term bridge loan will be paid off in full at the time of sale of the townhouses.

MORE FROM Financial Digest

Preservation of Affordable Housing secures $23.5 million in financing from Rockland Trust and Citizens Bank

Cambridge, MA The nonprofit Preservation of Affordable Housing (POAH) has secured $23.5 million in financing from Rockland Trust and Citizens Bank to transform a 150-year-old, underutilized church complex into housing. The project will ultimately create 46 affordable family-sized apartments.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Conn. hospitality market: A technical appraisal perspective on market dynamics and valuation challenges (2019-2025)

Conn. hospitality market: A technical appraisal perspective on market dynamics and valuation challenges (2019-2025)

The Connecticut hospitality market has demonstrated uneven recovery patterns between 2019 and 2025, with boutique and historic properties achieving $125 RevPAR in 2025, up 8.7% from the 2019 level. Coastal resort properties achieved a $105 RevPAR in 2025, representing 10.5% growth since 2019. Casino corridor properties maintained modest growth with RevPAR improving 4.5% to $92 in 2025.
Examples of investors who used Kay Properties for legacy and estate planning purposes for rental property/portfolios - by Dwight Kay

Examples of investors who used Kay Properties for legacy and estate planning purposes for rental property/portfolios - by Dwight Kay

Preserving wealth across multiple generations requires strategic planning, foresight, and the right investment vehicles. Delaware Statutory Trusts (DSTs) offer a powerful solution for families looking to build and protect their financial legacy and to efficiently plan for their estate.