Updated Nov 28, 2024
S3 Capital Partners Provides $11M Construction Loan For Multifamily Property In Kew Gardens, Queens
$11,000,000
$282/SF
Building Size
39,000 SF
Asset Type
MultiFamily
Closing
Apr 17, 2023
About this deal
AI
A construction loan has been secured for a multifamily property in Kew Gardens, Queens. The property has a total square footage of 39,000 and consists of 33 units. The loan was provided by S3 Capital Partners, with Robert Schwartz representing the lender.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $11,000,000
- Lender: S3 Capital Partners - Robert Schwartz
- Loan Type: Construction
The deal's key individuals include Robert Schwartz, who represents S3 Capital Partners as the lender in the transaction. The loan amount secured for the construction of the multifamily property is $11,000,000.
Players
Market 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
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93