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1346 Pacific Street, Brookl...

Updated Oct 28, 2024

S3 Capital Partners Provides $2.45M Construction Loan For Crown Heights Multifamily
FINANCEDMultiFamily

S3 Capital Partners Provides $2.45M Construction Loan For Crown Heights Multifamily

1346 Pacific Street, Brooklyn, New York 11216, United States

$2,450,000

$516/SF

Building Size

4,745 SF

Asset Type

MultiFamily

Closing

May 18, 2022

About this deal

AI

A construction loan has been secured for a multifamily property located at 1346 Pacific St. in Crown Heights, Brooklyn. The property spans approximately 4,745 square feet and consists of 7 units.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,450,000
  • Address: 1346 Pacific St.
  • Market: Crown Heights, Brooklyn
  • Square Footage: 4,745
  • Units: 7

The lender for this transaction is S3 Capital Partners, represented by Robert Schwartz and Shawn Safdie. They have provided a construction loan for the property.

The multifamily loan at 1346 Pacific Street, Brooklyn, New York 11216, United States in New York, New York financed for $2.5M in 2022. Reported inventory is 4,745 square feet across 7 units, or about 516 per square foot. Named participants on the 1346 Pacific Street, Brooklyn, New York 11216, United States loan are Robert Schwartz, Shawn Safdie. This page is the New York, New York file for the 1346 Pacific Street, Brooklyn, New York 11216, 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 1346 Pacific Street, Brooklyn, New York 11216, United States around 2022. Published consideration for 1346 Pacific Street, Brooklyn, New York 11216, United States is $2.5M, dated 2022. Cite this S3 Capital Partners Provides $2.45M Construction Loan For Crown Heights Multifamily loan when underwriting similar multifamily product around New York, New York.

Players

Shawn Safdie

S3 Capital

Lender

$2B

vol

91 deals

Lender
S3 Capital
S3 CapitalLender

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $516 per square foot on a published $2.5M for 4,745 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

6.47%

Cash-on-Cash

-1.85%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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