Updated Oct 28, 2024
S3 Capital Partners Provides $31.5M Construction Loan For Multifamily Project In Williamsburg, Brooklyn
110 North 1st Street, Brooklyn, New York 11249, United States
$31,500,000
$725/SF
Building Size
43,437 SF
Asset Type
MultiFamily
Closing
Apr 13, 2022
About this deal
AI
The property involved in this transaction is a multifamily building located at 110 N. 1st St. in Williamsburg, Brooklyn. The building has a total square footage of 43,437 and consists of 39 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $31,500,000
- Date: 04/14/2022
- Market: Williamsburg, Brooklyn
The lender for this transaction is S3 Capital Partners, represented by Robert Schwartz and Shawn Safdie. The loan amount provided was $31,500,000, and the loan type is construction.
The multifamily loan at 110 North 1st Street, Brooklyn, New York 11249, United States in New York, New York financed for $31.5M in 2022. Reported inventory is 43,437 square feet across 39 units, or about 725 per square foot. Named participants on the 110 North 1st Street, Brooklyn, New York 11249, United States loan are Robert Schwartz, Shawn Safdie. This page is the New York, New York file for the 110 North 1st Street, Brooklyn, New York 11249, United States multifamily financed: pricing, party profiles, and other closed multifamily comps from the same New York sit in the Market section below. Filter that New York multifamily set by closing date to see what else financed near 110 North 1st Street, Brooklyn, New York 11249, United States around 2022. Published consideration for 110 North 1st Street, Brooklyn, New York 11249, United States is $31.5M, dated 2022. Cite this S3 Capital Partners Provides $31.5M Construction Loan For Multifamily Project In Williamsburg, Brooklyn loan when underwriting similar multifamily product around New York, New York.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93