Updated Oct 28, 2024
S3 Capital Partners Provides $28M Acquisition Loan For Flushing Development Site
$28,000,000
$650/SF
Building Size
43,078 SF
Asset Type
Development Site
Closing
Oct 13, 2022
About this deal
AI
A development site located in Flushing, Queens has been involved in a recent loan transaction. The property has a building square footage (BSF) of 206,771 and a total square footage (SF) of 43,078. The loan, amounting to $28,000,000, was provided for the purpose of acquisition.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $28,000,000
- Market: Flushing, Queens
- BSF: 206,771
- SF: 43,078
The loan was granted by S3 Capital Partners, represented by Robert Schwartz and Steven Jemal. For any inquiries regarding the loan, interested parties may reach out to Steven Jemal at [email protected].
Players
Market Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93