Updated Feb 16, 2024
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
About this deal
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.
The multifamily loan at 129 Concord Street, Brooklyn, New York 11201, United States in New York, New York financed for $36.5M in 2022. Reported inventory is 49,680 square feet across 73 units, or about 734 per square foot. Named participants on the 129 Concord Street, Brooklyn, New York 11201, United States loan are David Halberstam. This page is the New York, New York file for the 129 Concord Street, Brooklyn, New York 11201, 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 129 Concord Street, Brooklyn, New York 11201, United States around 2022. Published consideration for 129 Concord Street, Brooklyn, New York 11201, United States is $36.5M, dated 2022. Cite this S3 Capital Partners Provides $36.5M Construction Loan For Multifamily Property In Downtown 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
0.43%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93