Updated Oct 28, 2024
S3 Capital Partners Provides $2.2M Acquisition & Construction Loan For Crown Heights Multifamily Property
1006 Bergen Street, Brooklyn, New York 11216, United States
$2,200,000
$630/SF
Building Size
3,490 SF
Asset Type
MultiFamily
Closing
May 16, 2022
About this deal
AI
The multifamily property located at 1006 Bergen St. in Crown Heights, Brooklyn recently underwent a closed transaction involving an acquisition and construction loan. The property spans approximately 3,490 square feet and consists of four units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,200,000
- Address: 1006 Bergen St.
- Market: Crown Heights, Brooklyn
- Loan Type: Acquisition & Construction
The loan was provided by S3 Capital Partners, represented by Robert Schwartz and Shawn Safdie. Robert Schwartz and Shawn Safdie of S3 Capital Partners played a vital role in securing the loan for the acquisition and construction of the property at 1006 Bergen St. in Crown Heights, Brooklyn.
Players
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Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.21%
Cash-on-Cash
-2.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93