Updated Oct 28, 2024
S3 Capital Partners Provides $6.3M Acquisition Loan For Astoria Development Site
31 21st Street, Queens, New York 11105, United States
$6,300,000
$155/SF
Building Size
40,532 SF
Asset Type
Development Site
Closing
Jun 7, 2022
About this deal
AI
Located in Astoria, this development site at 31-16 21st St. has recently been involved in a closed transaction. The property spans across a total buildable square footage (BSF) of 40,532, making it a substantial asset in the area.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $6,300,000
- Market: Astoria
- Lender: S3 Capital Partners - Robert Schwartz & Steven Jemal
- Loan Type: Acquisition
Handling the financing for this transaction is S3 Capital Partners, led by Robert Schwartz and Steven Jemal. They have provided a loan amount of $6,300,000 for the acquisition of this development site. For more information about the loan, inquiries can be directed to Steven Jemal at [email protected].
Players
New York Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.52%
Cash-on-Cash
-0.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93