Updated Oct 29, 2024
S3 Capital Partners Provides $8.9M Acquisition Loan For Development Site In Fort Greene, Brooklyn
$8,900,000
Building Size
—
Asset Type
Development Site
Closing
Aug 18, 2023
About this deal
AI
A development site in Fort Greene, Brooklyn has secured an acquisition loan of $8,900,000 from S3 Capital Partners. The loan will be used to finance the purchase of the property.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $8,900,000
- Lender: S3 Capital Partners
S3 Capital Partners, represented by Robert Schwartz and Shawn Safdie, provided the acquisition loan for the development site in Fort Greene, Brooklyn. The loan will enable the buyer to acquire the property and pursue its development plans.
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
1.78%
Cash-on-Cash
-0.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93