S3 Capital Partners Provides $36.5M Construction Loan For Multifamily Property In Downtown Brooklyn
FINANCED
$36,500,000
New York
See Similar DealsMultiFamily49,680 SF
Financed 05/11/2022
FINANCED
S3 Capital Partners Provides $36.5M Construction Loan For Multifamily Property In Downtown Brooklyn
129 Concord Street, Brooklyn, New York 11201, United States
See Similar DealsMultiFamily49,680 SF
Financed 05/11/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$734
Total Square Footage:49,680 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$36,500,000.00
Monthly NOI$243,333.33
Monthly Debt Service$230,704.83
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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