Newswire Residential

Urban Standard Capital Lends $18 Million On Manalapan Florida Mansion

Urban Standard Capital, a NYC-based fully integrated real estate private equity firm with a presence in South Florida, provided an $18 million acquisition loan to the new owner of a Manalapan Florida mansion that sold for $32.25 million.

The home, located at 860 S Ocean Blvd, boasts 8,255 sq. ft., six bedrooms, nine baths, and direct ocean and intracoastal frontage. This one-of-a-kind custom estate has a guest house, dock, home theater, billiards room, artificial turf golf hole, tennis court, breathtaking gardens with outdoor water features, and an oceanfront loggia with an infinity pool overlooking the Atlantic Ocean.

According to Urban Standard Capital’s Robert Levine, “In the current market environment in South Florida, there is no room for lenders who drag their feet. We have distinguished ourselves as the speed and certainty bid. This transaction is yet another example of that execution.”

Urban Standard has seen a tremendous amount of growth in its South Florida business over the last year. Last month, they funded a $13 million loan to to refinance 34 Star Island Drive in Miami Beach. In the same month, USC closed two construction loans for luxury single family homes in West Palm Beach. This summer, the firm financed a $20 million acquisition loan to the buyer of 757 Island Drive, an undeveloped corner lot on Everglades Island, a highly exclusive island in Palm Beach with only 55 homes.

Urban Standard has a pipeline of over $100 million of loans in South Florida, with a focus on luxury single and multi-family properties including ground up development and value add investments.

“Urban Standard Capital is thrilled to be doing deals in the South Florida market, bringing our borrower focused lending approach to owners and developers there,” said Urban Standard Capital’s Managing Partner Seth Weissman. “We are busy expanding our existing relationships and building new ones in this strong, dynamic market.”

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