S3 Capital Finances $12.5M Construction Loan For 23-Unit Condo Development In Fort Greene, Brooklyn

A construction financing loan in the amount of $12,500,000 has been secured for the development of a 23-unit condo property located at 167 Willoughby Street in Fort Greene, Brooklyn. The loan, provided by S3 Capital Partners, will be used for the construction of the development site, which spans 30,225 square feet.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $12,500,000
• Address: 167 Willoughby Street
• Market: Fort Greene, Brooklyn
• Lender: S3 Capital Partners

The loan was facilitated by Drew De Risi, representing S3 Capital, as the originator. The landlord of the development site is Boomerang Development Group, represented by Marco Auteri, Giovanni Ferrara, and Daniel Pipitone.