Steven Jemal Of S3 Capital Provides $19.5M Construction Loan For Miami Beach Condo Development
$19,500,000
Units
16
Asset Type
Condo
Closing
Sep 30, 2026
About this deal
AI
The asset involved in this transaction is a 16-unit condo building located in Miami Beach, FL. The construction loan provided for this development amounts to $19,500,000, facilitated by S3 Capital. The condo project is part of a broader commitment to financing multifamily transactions across various markets.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $19,500,000
- Lender: Steven Jemal - S3 Capital
- Loan Type: Construction
- Market: Miami Beach, FL
Steven Jemal, representing S3 Capital, is a noted capital provider focused on loan opportunities exceeding $1 million. He actively finances multifamily transactions across markets from New York to Texas, underscoring the strategic importance of this loan for the development of the condo building.
Players
Market Condo Market Snapshot
Boundary boundary · Condo · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93