Updated Apr 30, 2026
S3 Capital Provides $47,000,000 Predevelopment Loan For Edgewater Multifamily Transaction
$47,000,000
Building Size
—
Asset Type
Development Site
Closing
Apr 20, 2026
About this deal
AI
The transaction involved a multifamily asset located in Edgewater, Miami. The loan amount for this financing is set at $47,000,000, categorized as a predevelopment loan. S3 Capital is the lender facilitating this deal, with a specific focus on multifamily transactions across key markets including New York and Texas.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $47,000,000
- Lender: Robert Schwartz & Steven Jemal - S3 Capital
- Brokers: Scott Wadler & Michael Basinski - Berkadia
- Loan Type: Predevelopment
Robert Schwartz and Steven Jemal from S3 Capital are the lenders for this transaction, which highlights their active role in financing multifamily opportunities. The brokers involved in this deal, Scott Wadler and Michael Basinski from Berkadia, play a crucial role in facilitating the transaction. A note from the lender indicates that S3 Capital specializes in financing multifamily properties with a minimum loan amount exceeding $1 million.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93