S3 Capital Funds Construction Loan For Fort Greene Multifamily With Morris Diamant, Robert Schwartz & Tzvi Krieger
19 Rockwell Pl Brooklyn, NY 11217, USA
$78,000,000
$496/SF
Building Size
157,092 SF
Asset Type
MultiFamily
Closing
Jun 15, 2023
AI
Located in Fort Greene, the multifamily property at 19 Rockwell Place recently underwent a closed transaction. Spanning an impressive 157,092 square feet, the property consists of 174 units. The deal was facilitated by Meridian Capital Group, with Morris Diamant and Tzvi Krieger representing the buyer as brokers. Notably, this transaction involved a construction loan, with S3 Capital Partners providing funding.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $78,000,000
- Address: 19 Rockwell Place
- Market: Fort Greene
- Square Footage: 157,092
- Units: 174
S3 Capital Partners, represented by Robert Schwartz and Shawn Safdie, served as the lender for this deal. For any loan inquiries regarding this transaction, interested parties can reach out to Shawn Safdie at [email protected].
Players
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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93