S3Capital Partners Provides $14M Loan For Development Of Multifamily Condos In Manhattan Beach
FINANCED
$14,000,000
New York
See Similar DealsMultiFamily1,777 SF
Financed 07/20/2020
FINANCED
S3Capital Partners Provides $14M Loan For Development Of Multifamily Condos In Manhattan Beach
11 West End Avenue, New York, NY 10025
See Similar DealsMultiFamily1,777 SF
Financed 07/20/2020
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$7,878
Total Square Footage:1,777 SF
Transaction Type:Loan
The transaction involves a multifamily asset located at 11, 15, 17, 27 & 29 West End Avenue in Manhattan Beach, consisting of 39 units. The loan amount secured for this property is $14,000,000, designated as a construction loan for the development of a new condo building featuring a community facility and 21 parking spaces.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $14,000,000
- Units: 39
- Address: 11, 15, 17, 27 & 29 West End Avenue
- Market: Manhattan Beach
- Lender: S3 Capital Partners - Andrew Yakubovich & Robert Schwartz
- Loan Terms: Construction loan for a new 39 unit condo building with community facility & 21 parking spaces
Key individuals involved in this transaction include Andrew Yakubovich and Robert Schwartz, representing S3 Capital Partners as the lenders for the development project. The loan is intended for financing the construction aspects of the multifamily building.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$14,000,000.00
Monthly NOI$93,333.33
Monthly Debt Service$88,489.52
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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