S3 Capital Partners Provides $36.5M Construction Loan For Multifamily Property In Downtown Brooklyn
129 Concord Street, Brooklyn, New York 11201, United States
$36,500,000
$734/SF
Building Size
49,680 SF
Asset Type
MultiFamily
Closing
May 10, 2022
AI
A construction loan was recently secured for a multifamily property at 129 Concord St. in Downtown Brooklyn. The property spans approximately 49,680 square feet and consists of 73 units.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $36,500,000
- Address: 129 Concord St., Downtown Brooklyn
- Square Footage: 49,680
- Number of Units: 73
The lender for this construction loan is S3 Capital Partners, represented by Robert Schwartz and Shawn Safdie. The landlord of the property is David Halberstam.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.43%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93