S3 Capital Finances $3.6M Loan For Brooklyn Multifamily Conversion

Located in the vibrant neighborhood of Brooklyn, the property at 58 Butler Street recently underwent a significant transaction. The multifamily asset, consisting of a three-unit building, was successfully acquired by Nicole Saavera, who plans to convert it into a four-unit condo building. The deal was finalized on July 23, 2020.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $3,600,000
• Lender: S3 Capital
• Landlord: Nicole Saavera

S3 Capital played a crucial role in the transaction, providing a loan amount of $3,600,000 to facilitate the acquisition. For more information about the loan, interested parties can reach out to Steven Jemal and Robert Schwartz at S3 Capital via email at [email protected]. This successful deal demonstrates the dynamic nature of Brooklyn's real estate market, as well as the opportunities it presents for investors and developers.