Updated Nov 28, 2024
S3 Capital Partners Provides $8M Construction Loan For Greenpoint Multifamily Property
$8,000,000
$411/SF
Building Size
19,424 SF
Asset Type
MultiFamily
Closing
Jan 4, 2023
About this deal
AI
A construction loan of $8,000,000 has been secured for a multifamily property in Greenpoint, Brooklyn. The property has a total square footage of 19,424 and is located in a thriving market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $8,000,000
- Market: Greenpoint, Brooklyn
- Lender: S3 Capital Partners - Robert Schwartz & Shawn Safdie
- Loan Type: Construction
S3 Capital Partners, represented by Robert Schwartz and Shawn Safdie, provided the loan for this construction project. With their expertise and financial support, the project is expected to proceed smoothly. The loan will enable the property owners to finance the necessary construction and achieve their development goals.
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
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93