Brooklyn Multifamily Property Secures $32M Construction Loan With S3 Capital Partners

A construction loan of $32,000,000 has been secured for the development of 43 residential units and 7 townhouses located at 444 Clinton Ave in Brooklyn. The property spans across 59,662 square feet.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $32,000,000
• Address: 444 Clinton Ave
• Market: Brooklyn
• Lender: S3 Capital Partners
• Landlord: Pinny Loketch, Joel Wertzberger, Alan Lebovits @Loketch_Group
• Square Footage: 59,662

The loan was provided by S3 Capital Partners, while Pinny Loketch, Joel Wertzberger, and Alan Lebovits of the Loketch Group serve as the landlords for the property. This construction loan will facilitate the development of 43 residential units and 7 townhouses, bringing new housing options to the area.