Updated Oct 29, 2026
Jeff Sutton Of Wharton Properties Secures $16 Million Construction Loan From S3 Capital For 19 Bank Street
19 Bank Street
$16,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 13, 2026
About this deal
AI
The asset involved in this transaction is an eight-unit residential building located at 19 Bank Street in the West Village, Manhattan. It is classified as a multifamily property, which is undergoing rehabilitation funded by a construction loan.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $16,000,000
- Lender: S3 Capital
- Landlord: Jeff Sutton - Wharton Properties
- Loan Type: Construction
The deal represents a significant financial backing for Wharton Properties, led by Jeff Sutton, who is orchestrating the rehabilitation efforts for the property. S3 Capital serves as the lender, providing the necessary support for the construction activities involved in enhancing the residential building.
On the Map
$16,000,000
MultiFamily
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New York 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
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93