S3 Capital Partners Provides $4M Acquisition Loan For Mixed-Use Property In NoLita
240 Elizabeth Street, New York City, New York 10012, United States
$4,000,000
$638/SF
Building Size
6,269 SF
Asset Type
Mixed-use
Closing
Jan 11, 2022
About this deal
AI
The property asset involved in the transaction is located at 240 Elizabeth St. in the NoLita market. It is a mixed-use property with a square footage of 6,570 and a loan amount of $4,000,000 secured for acquisition purposes.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $4,000,000
- Address: 240 Elizabeth St.
- Market: NoLita
- Lender: S3 Capital Partners
- Lender Representatives: Steven Jemal & Rob Schwartz
- Landlord: David Habif & Lenny Sporn
- Loan Type: Acquisition
The individuals involved in the deal include Steven Jemal and Rob Schwartz, who represent the lenders from S3 Capital Partners, while the landlords, David Habif and Lenny Sporn, are the counterparts in this transaction.
On the Map
$4,000,000
$638/SF
Mixed-use
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Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93