Shawn Safdie Of S3 Capital Provides $22 Million Renovation Loan For Carrol Gardens Condo Development
$22,000,000
Building Size
—
Asset Type
Condo
Closing
Aug 7, 2026
About this deal
AI
The transaction involves a condominium asset located in Carroll Gardens. This loan facilitates the renovation of an existing building to support a mixed-use condo development that will include ground floor retail space.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $22,000,000
- Lender: Shawn Safdie - S3 Capital
- Loan Type: Renovation
- Market: Carroll Gardens
Shawn Safdie represents S3 Capital, which is actively financing multifamily transactions across various markets, including New York and Texas. The firm focuses on loan opportunities that exceed $1 million, showcasing its expertise in the sector.
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
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93