S3 Capital Partners Provides $2.3M Acquisition Loan For Mixed-Use Property On Myrtle Ave In Clinton Hill
441 Myrtle Avenue
$2,300,000
$605/SF
Building Size
3,800 SF
Asset Type
Mixed-use
Closing
Dec 5, 2022
About this deal
AI
An acquisition loan in the amount of $2,300,000 has been secured for a mixed-use property located at 441 Myrtle Ave in the Clinton Hill market. The property has a total square footage of 3,800 and is part of a vibrant neighborhood with a diverse range of amenities.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $2,300,000
- Address: 441 Myrtle Ave
- Market: Clinton Hill
- Square Footage: 3,800
S3 Capital Partners, represented by Robert Schwartz and Shawn Safdie, provided the loan for this acquisition. Their involvement in the deal showcases their expertise in financing mixed-use properties in the market. The transaction highlights their commitment to supporting real estate investors in acquiring promising assets.
Players
Brooklyn 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
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93