S3 Capital Provides $111 Million Construction Loan For 36-Story Luxury Rental In Edgewater Miami
$111,000,000
$219/SF
Building Size
506,266 SF
Asset Type
MultiFamily
Closing
Jul 2, 2026
AI
The asset involved in this transaction is a multi-family property located in Edgewater, Miami, FL. The property spans a total square footage of 506,266 and consists of 328 residential units.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $111,000,000
- Loan Type: Construction
- Lender: Robert Schwartz & Steven Jemal - S3 Capital
- Construction Details: Ground-up construction of a 36-story luxury rental building.
Robert Schwartz and Steven Jemal represent S3 Capital in this transaction, which actively finances multifamily transactions across various markets with a focus on opportunities exceeding $1 million.
Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93