Updated Oct 28, 2024
S3 Capital Partners Provides $24.65M Construction Loan For Flushing Multifamily Project
133-39 35th Avenue, Queens, New York 11354, United States
$24,650,000
$429/SF
Building Size
57,349 SF
Asset Type
MultiFamily
Closing
Jan 21, 2022
About this deal
AI
An multifamily property located at 133-39 35th Ave. in Flushing, Queens has been involved in a recent transaction. The property has a total square footage of 57,349 and comprises 70 units. The transaction took place on January 21, 2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $24,650,000
- Market: Flushing, Queens
- Lender: S3 Capital Partners - Robert Schwartz & Steven Jemal
- Loan Type: Construction
S3 Capital Partners, represented by Robert Schwartz & Steven Jemal, provided a construction loan for the transaction. For any loan inquiries, interested parties can reach out to [email protected].
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.64%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93