A local bank took this property back through foreclosure from a local builder who simply couldn’t pull it off. Workmanship up to that point was “just O.K.” and the property was in need of some serious love. SFG’s borrower, a high net worth retired individual, had vision and $1,250,000 cash to take this property off the bank’s hands. From there, she scratched the existing plans and brought in famed Stewart Silk Architects and Reed Construction. SFG funded a $1,700,000 line of credit construction loan and the photo gallery tells the rest of the story. This home is well on track to its $3,500,000 appraised completed value.
UPDATE! Construction nearly complete. Purchase of Bank REO
Washington Park area (Seattle), WA