Updated Oct 28, 2024
S3 Capital Partners Provides $4.4M Bridge Loan For Multifamily Property On 20th St
187 20th Street, Brooklyn, New York 11232, United States
$4,400,000
$452/SF
Building Size
9,716 SF
Asset Type
MultiFamily
Closing
May 12, 2022
About this deal
AI
An $4,400,000 bridge loan has been secured for a multifamily property located at 187 20th St. in South Slope. The property spans 7,763 square feet and consists of 8 units. The loan was obtained from S3 Capital Partners, with Robert Schwartz and Shawn Safdie representing the lender.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,400,000
- Address: 187 20th St.
- Market: South Slope
- Square Footage: 7,763
- Number of Units: 8
Robert Schwartz and Shawn Safdie, from S3 Capital Partners, served as the representatives for the lender in this bridge loan transaction.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.61%
Cash-on-Cash
-1.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93