John Du Of Bridge City Realty And Jason Chen Of Treble Development Secure $4.4M Loan For Condo
111 Smith Street
$4,399,999
$831/SF
Building Size
5,290 SF
Asset Type
Condo
Closing
Jul 24, 2026
AI
The asset involved in this transaction is a condo located at 111 Smith Street in Boerum Hill, comprising 5,290 square feet and containing 4 units. The loan amount for this property is $4,399,999, and the financing type is a construction loan structured as non-recourse condo construction financing.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $4,399,999
- Address: 111 Smith Street
- Market: Boerum Hill
- Asset Size: 5,290 SF
- Units: 4
- Lender: S3 Capital
- Borrowers: John Du - Bridge City Realty & Jason Chen - Treble Development
- Broker Representatives: Matt Swerdlow & Anthony Priest - Ariel Property Advisors
- Loan Type: Construction
- Loan Terms: Non-Recourse Condo Construction Financing
This transaction marks the second construction loan structured by Ariel Property Advisors between the borrowers, John Du and Jason Chen, and the lender, S3 Capital. The brokers involved in this deal, Matt Swerdlow and Anthony Priest, are representatives from Ariel Property Advisors.
Players
Brooklyn Condo Market Snapshot
Boundary boundary · Condo · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.61%
Cash-on-Cash
-1.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93