Purchase Price
$387,000
$269 / sq ft
ARV
$575,000
In line with local comps
Rehab Budget
$30,000
Cosmetic / light rehab
Financing Requested
$378,300
100% of balance + rehab
Total Project Cost
$417,000
Purchase + rehab
Loan-to-ARV
72.5%
$417,000 / $575,000
Est. Gross Spread
~$158,000
ARV minus project cost*
Target Hold
~3–4 mo.
2 wk rehab + market/close
Proposed Return to Lender
15%
≈ $56,745 on $378,300 loan
*Gross spread is ARV minus total project cost before financing costs (points/interest), closing costs, and selling commissions — not net profit. Lender return is a proposed deal term, illustrative only, subject to final loan agreement.
Property Overview
| Purchasing Entity | 73-14 Northern Blvd, LLC |
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| Sponsor / Member | Kwame Adusei |
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| Seller | Donato Gemmati |
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| Tax Map | Section 6662, Block 01, Lot 414868 |
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| Lot Size | 0.72 acres |
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| Dwelling Size | 1,436 sq ft |
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| Water / Sewer | Private well / private sewer |
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| School District | Millbrook CSD |
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| Contract Date | August 10, 2026 |
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| Target Closing | On/about Aug 21, 2026* |
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*Closing date is a target, not time-of-essence — a written financing commitment can be obtained within the contract's 30-business-day contingency window without jeopardizing the deal.
Deal Story — Built-In Equity
The Seller acquired this property via a foreclosure referee's deed in April 2026 for $302,000 (Dutchess County foreclosure action, Index No. 2024-50810). Since acquiring it, the Seller completed a substantial renovation — new kitchen (cabinets, quartz counters, appliances), updated bathrooms, and new flooring throughout. 73-14 Northern Blvd, LLC is now under contract to purchase the largely-renovated property for $387,000 — a straightforward arms-length resale with a clear, recorded chain of title, needing only ~$30,000 of finishing work before listing.
| Foreclosure Sale Price (Apr 2026) | $302,000 |
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| Current Contract Price | $387,000 |
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| Deposit Paid (in escrow) | $38,700 |
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| Balance Due at Closing | $348,300 |
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Financing Requested
Seeking private money / hard money financing structured as a 100% deal-based loan — underwritten to the deal's purchase price, ARV, and exit strategy rather than borrower income/credit.
| Loan Type | Private money / hard money — fix & flip |
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| Amount Requested | $378,300 ($348,300 balance + $30,000 rehab) |
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| Loan-to-ARV | 72.5% ($417,000 total cost / $575,000 ARV) |
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| Proposed Return to Lender | 15% (≈$56,745 on $378,300) |
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| Term Requested | TBD (typical 6–12 mo. bridge) |
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Why This Deal Works For Your Capital
- ✓
Real Property Security
Loan secured by a first-position lien on a single-family home, not an unsecured note.
- ✓
27.5% Equity Cushion
$158,000 of spread between total project cost ($417,000) and ARV ($575,000).
- ✓
Short Duration
~3–4 month projected hold — capital is in and out fast, not tied up for years.
- ✓
Renovation Largely Done
Kitchen, baths, and flooring already redone by the seller — only ~$30,000 of finishing work stands between this and listing, which cuts execution risk.
- ✓
Experienced Sponsor
7 deals completed by the sponsor; addresses available on request.
- ✓
Clean, Recorded Title
Straightforward arms-length resale following a public foreclosure sale — clear chain of title.
Comparable Sales
| Address | Sale Price | Sq Ft | $ / Sq Ft | Lot | Sold | Use |
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| 20-30 Wilcox Rd, Verbank | $715,000 | 1,400 | $511 | 0.55 ac | Jul 2026 | Best match |
| 109 Brush Hill Rd, Millbrook | $665,000 | 1,856 | $358 | 5 ac | Jun 2024 | Dated / larger |
| 157 Mallory Rd, Verbank | $1,500,000 | — | — | 16.98 ac | Jun 2026 | Excluded |
| 425 Camby Rd, Verbank | $1,747,500 | 3,488 | $501 | 19.77 ac | Jul 2026 | Excluded |
Comp quality note: Mallory Rd and Camby Rd sit on 17–20 acre parcels and are luxury-scale estates — not size-comparable to this 0.72-acre, 1,436 sq ft property, so they're shown for context but excluded from the ARV math. Wilcox Rd (0.55 ac, sold last month) and Brush Hill Rd (sold 2024) are the closer matches — the $575,000 ARV used in this packet sits comfortably inside the range those two comps support ($358–$511/sq ft × 1,436 sq ft).
Rehab & Exit Strategy
| Rehab Budget | $30,000 |
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| Rehab Timeline | ~2 weeks |
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| Exit Strategy | List & sell on open market |
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| Use of Sale Proceeds | Pay off loan in full |
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Plan is to complete a light/cosmetic rehab (~2 weeks) — paint, flooring touch-ups, and final finish work on top of the kitchen/bath renovation already completed — then list the property for sale on the open market and pay off the loan in full from sale proceeds at closing. Target hold period is roughly 3–4 months total once typical marketing and closing time is factored in.
Sponsor
| Entity | 73-14 Northern Blvd, LLC |
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| Managing Member | Kwame Adusei |
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| Track Record | 7 deals completed |
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| Portfolio | Addresses available on request |
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| Broker / Facilitator | Iliana H. — Key2Legacy Holdings |
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Experienced local investor with 7 completed deals to date. Full deal history and property addresses available on request. This funding request is being facilitated by Iliana H. of Key2Legacy Holdings on behalf of the Sponsor.
This summary is for informational purposes only, is not an offer of securities or credit, and all figures are preliminary and subject to verification, inspection, appraisal, and underwriting. Comparable sales sourced from public listing data and unverified as of this page's last update.
Last updated: August 13, 2026