David Halberstam Of Bruklyn Builders Secures $19.2M Construction Loan From S3 Capital In Gowanus Brooklyn
284 4th Avenue
$19,200,000
Building Size
—
Asset Type
Industrial
Closing
Jun 11, 2025
AI
The property asset involved is an industrial facility located at 284 4th Avenue in Gowanus, Brooklyn. The asset consists of 48 residential units and is financed through a construction loan. The loan amount secured for this project is $19,200,000.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $19,200,000
- Lender: S3 Capital
- Landlord: David Halberstam - Bruklyn Builders
- Loan Type: Construction
David Halberstam, representing Bruklyn Builders, successfully obtained the construction loan from S3 Capital to support the development of the residential project at the specified address. This transaction highlights the involvement of these key players in the financing of the asset.
Players
Brooklyn Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93