S3 Capital Partners Provides $16.5 Million Construction Loan For Multifamily Asset In Passaic NJ

The asset involved in this transaction is a multifamily property located in Passaic, NJ, encompassing a total square footage of 81,092 and comprising 52 units. The transaction involves a loan amount of $16,500,000 specifically designated for construction purposes, with a term of 18 months.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $16,500,000
• Loan Type: Construction
• Loan Terms: 18 Months
• Market: Passaic, NJ
• Lender: Robert Schwartz, Steven Jemal & Shawn Safdie - S3 Capital Partners
• Brokers: Zev Feder, Satyam Patel & Ariel Taieb - Meridian Capital Group

The deal features key individuals such as Robert Schwartz, Steven Jemal, and Shawn Safdie representing S3 Capital Partners as lenders. The brokerage team from Meridian Capital Group includes Zev Feder, Satyam Patel, and Ariel Taieb, who facilitate the transaction in their respective capacities.