Updated May 12, 2025
S3Capital Partners Provides $14M Loan For Development Of Multifamily Condos In Manhattan Beach
11 West End Avenue, New York, NY 10025
$14,000,000
$7,878/SF
Building Size
1,777 SF
Asset Type
MultiFamily
Closing
Jul 20, 2020
About this deal
AI
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.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93