S3 Capital Provides $40 Million Construction Loan For Multifamily Asset In Hollywood, FL

The property asset involved in this transaction is a multifamily building located in Hollywood, FL. It consists of 36 units, with a total square footage of 54,383. The transaction secured a construction loan amounting to $40,000,000 with a loan term of 18 months.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $40,000,000
• Loan Type: Construction
• Loan Terms: 18 months
• Market: Hollywood, FL
• Units: 36
• Square Footage: 54,383
• Lender: Robert Schwartz & Steven Jemal - S3 Capital
• Landlord: Mark Drachman, Allen Konstam, Ira Chaimovitz & Husein Sonara - Condra Property Group
• Broker: Raffi Landau - Estreich & Company

The key individuals in this transaction include Robert Schwartz and Steven Jemal, who represent the lending entity S3 Capital, a capital provider that focuses on financing multifamily transactions. Additionally, the landlords are represented by Mark Drachman, Allen Konstam, Ira Chaimovitz, and Husein Sonara from Condra Property Group, showcasing a partnership aimed at developing this property. The deal was facilitated by broker Raffi Landau from Estreich & Company.