Le Chateau

$1,800,000 bridge loan secured by a first mortgage on a 6,600 square-foot elegant, former French restaurant known as Le Chateau on 24.2 acres of land in South Salem, New York. The borrower used the loan proceeds to acquire the property and plans to redevelop the restaurant into a full-service wedding/banquet facility though a renovation of the historic main house and construction of a 7,730 square-foot addition with event space for 200 guests. Edgewood’s loan was paid off by the borrower in full in May of 2017.