S3 Capital Partners Provides $49 Million Construction Loan To Landlord Lee Cohen In Allenhurst NJ
FINANCED
New Jersey
See Similar DealsMultiFamily
Financed
Summary
Asset Type:MultiFamily
Transaction Type:Loan
The transaction involves a multifamily asset located in Allenhurst, NJ. The loan amount secured for this property is $49,000,000 and is classified as a construction loan.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $49,000,000
- Lender: Robert Schwartz, Shawn Safdie & Steven Jemal - S3 Capital Partners
- Landlord: Lee Cohen - Redhoek+
- Loan Type: Construction
S3 Capital Partners, represented by Robert Schwartz, Shawn Safdie, and Steven Jemal, is known for actively financing multifamily transactions across various markets, focusing on loans exceeding $1 million. Lee Cohen from Redhoek+ is the landlord associated with this loan transaction.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$49,000,000.00
Monthly NOI$326,666.67
Monthly Debt Service$309,713.33
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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