Greenwich, CT

Greenwich, CT Highlights

A classic brick Georgian estate located on 13+ park like acres inside the coveted North Gates of Conyers Farm offering privacy and serenity in its natural surroundings. A brick courtyard with fountain, four-car garage, greenhouse, pool with spa and waterfall, cabana, formal gardens with specimen plantings, and brick terraces and paths provide the landscape for this approximately 12,500 square foot residence. The 1st level features a 2 story entry hall with dual staircase, a double-size living room, elegant paneled library, dining room, breakfast room, kitchen, 2 powder rooms, and a master suite with “hers” sitting room and “his” office. There are five ensuite bedrooms and a family room on the second floor along with a covered porch that runs the length of the house. There are extra height ceilings and superb detailing throughout. All the public rooms on the 1st level open to a beautiful covered verandah overlooking the formal gardens and large entertaining terraces.

About the Neighborhood

North Gates of Conyers Farm is a gated community located in Greenwich, CT offering privacy and serenity in its natural surroundings. Sitting along the Long Island Sound, the quiet community of Greenwich is just a short commuter line ride from Wall Street, making Greenwich a popular home for wealthy Manhattanites. This coastal town  is the largest on Connecticut’s “Gold Coast” due to its many hedge funds and large financial service companies, and it has attracted wealthy persons from around the globe due to its low tax rate, school systems, and proximity to Manhattan. Greenwich is home to two of the wealthiest zip codes in Connecticut, 06830 and 06831, with average adjusted gross incomes of $638,560 and $721,550, and median household incomes of $109,250 and $255,417, respectively.  Composed of seven small hamlets, the historic homes and beautifully manicured gardens of Greenwich have made it a popular film location for movies about small town America. Pack a picnic and head to the Greenwich Point peninsula, a favorite beach spot with views of the Manhattan skyline.  Several festivals take place throughout the year for all interests; arts, film, food, and cultural. Take a stroll through Greenwich’s downtown where you can enjoy fine dining, shops, and other attractions.

 

Seniority

The first-priority mortgage lien position is the most senior and highest priority within the capital structure. In the event that a borrower defaults, the lien priority determines the order in which lenders are repaid. Senior lenders are always repaid first. All subordinated positions, including the amount held by the Originator and its investor syndicate, act as a buffer in the event of a deterioration in the Properties’ value.

Personal Guarantee

The Loans are personally guaranteed by the borrower, spouse, and all principals in the LLC. Additionally, the Sponsor and/or Guarantor are obligated to contribute monthly payments to maintain a tax and insurance reserve. Failure to adhere to reserve contribution requirements would lead to the triggering of a debt service and operating expense/shortfall guarantee.

Upfront Reserve

The Loan is structured with interest reserve for further protection.  12 months of debt service payments will be collected at closing.