S3 Capital Provides $52.5M Construction Loan For Condo Development At 1527 York Avenue
1527 York Avenue
$52,500,000
Units
28
Asset Type
Condo
Closing
Oct 9, 2026
About this deal
AI
The property is located at 1527 York Avenue in the Upper East Side of Manhattan. It is categorized as a condominium and is being developed into a 20-story building consisting of 28 units. The total construction loan amount secured for this project is $52,500,000.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $52,500,000
- Lender: Robert Schwartz, Shawn Safdie & Steven Jemal - S3 Capital
- Borrower: Salomon Cojab, Jack Cattan & Robert Salame
- Loan Type: Construction
S3 Capital is noted for actively financing multifamily transactions across various markets, focusing on loan opportunities exceeding $1 million. For this specific loan, the lenders include Robert Schwartz, Shawn Safdie, and Steven Jemal, who represent S3 Capital, while Salomon Cojab, Jack Cattan, and Robert Salame serve as the borrowers.
On the Map
$52,500,000
Condo
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.30%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93