Updated Nov 28, 2024
S3 Capital Partners Provides $1.6M Bridge Loan For Multifamily Property Acquisition In Bushwick, Brooklyn
$1,600,000
$512/SF
Building Size
3,120 SF
Asset Type
MultiFamily
Closing
Mar 21, 2023
About this deal
AI
A multifamily property located in Bushwick, Brooklyn recently underwent a closed transaction. This property spans an area of 3,120 square feet and comprises three units. The transaction involved a loan provided by S3 Capital Partners.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,600,000
- Market: Bushwick, Brooklyn
- Size: 3,120 square feet
- Units: 3
S3 Capital Partners, represented by Robert Schwartz & Shawn Safdie, served as the lenders for this transaction. The loan amount provided was $1,600,000, and it was classified as a bridge loan.
Players
Market 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
9.91%
Cash-on-Cash
-2.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93