Steven Jemal Of S3 Capital Provides $9 Million Construction Loan For Brighton Beach Condo Development
$9,000,000
Units
20
Asset Type
Condo
Closing
Sep 11, 2026
About this deal
AI
The asset involved in this transaction is a condo located in Brighton Beach, Brooklyn. The loan amount for the construction of a 20-unit condo building also includes provisions for parking and commercial space.
Summary of transation details:
- Property Type: Condo
- Transaction Amount: $9,000,000
- Lender: Steven Jemal - S3 Capital
- Loan Type: Construction
- Market: Brighton Beach, Brooklyn
Steven Jemal represents S3 Capital, which is actively financing multifamily transactions with a focus on opportunities exceeding $1 million across various markets, from New York to Texas. This construction loan facilitates the development project detailed above.
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
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93