Shawn Safdie Of S3 Capital Provides $13,500,000 Construction Loan For Condo Development In Prospect Heights
$13,500,000
Units
10
Asset Type
Condo
Closing
Sep 17, 2026
About this deal
AI
The asset involved in this transaction is a condo located in Prospect Heights, Brooklyn, with a focus on ground-up development. It encompasses a total of 10 units developed through a construction loan arrangement valued at $13,500,000.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $13,500,000
- Loan Type: Construction
- Lender: Shawn Safdie - S3 Capital
- Date: 09/17/2026
Shawn Safdie from S3 Capital took part in the transaction as the lender, reflecting S3 Capital's active involvement in financing multifamily transactions across various markets including New York and Texas. The focus is specifically on loan opportunities that exceed $1 million.
Players
Market 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
1.18%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93