Updated Oct 28, 2024
S3 Capital Partners Provides $12.2M Construction Loan For Multifamily Project In Bedford Park, Bronx
2983-2895 Valentine Avenue, The Bronx, New York 10458, United States
$12,200,000
$300/SF
Building Size
40,658 SF
Asset Type
MultiFamily
Closing
May 2, 2022
About this deal
AI
A construction loan was recently secured for a multifamily property located at 2983-2895 Valentine Ave in Bedford Park, Bronx. The property spans approximately 40,658 square feet and consists of 62 units. The loan, provided by S3 Capital Partners, was in the amount of $12,200,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $12,200,000
- Address: 2983-2895 Valentine Ave
- Market: Bedford Park, Bronx
- Square Footage: 40,658
- Units: 62
Robert Schwartz and Shawn Safdie, representing S3 Capital Partners, facilitated the loan for this construction project.
Players
Bronx 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
1.30%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93