Steven Jemal Of S3 Capital Provides $3,850,000 Construction Loan For Multifamily Development In Belleville NJ
$3,850,000
$291/SF
Building Size
13,189 SF
Asset Type
MultiFamily
Closing
Jun 1, 2026
AI
The asset is a multifamily property located in Belleville, NJ, comprising a total square footage of 13,189 and consisting of 18 units. The financing for this property is a construction loan valued at $3,850,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,850,000
- Asset Size: 13,189 SF
- Units: 18
- Lender: Steven Jemal - S3 Capital
- Loan Type: Construction
- Note from Lender: Ground-up development of an 18-unit rental building
Steven Jemal, representing S3 Capital, is the lender involved in this transaction. S3 Capital is recognized as a capital provider focusing on multifamily financing across various markets, catering to loan 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
4.12%
Cash-on-Cash
-1.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93