Updated Oct 28, 2024
S3 Capital Partners Provides $15.5M Construction Loan For Midwood Multifamily
618 Avenue H, Brooklyn, New York 11230, United States
$15,500,000
$491/SF
Building Size
31,563 SF
Asset Type
MultiFamily
Closing
Jun 16, 2022
About this deal
AI
The closed property transaction in Midwood, Brooklyn involves a multifamily asset located at 618 Avenue H. The property spans a total square footage of 31,563 and comprises 46 units. The market value of this multifamily property was not disclosed in the provided information.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $15,500,000
- Address: 618 Avenue H, Midwood, Brooklyn
- Square Footage: 31,563
- Units: 46
The loan for this transaction was provided by S3 Capital Partners, represented by Robert Schwartz and Andrew Yakubovich. The lender is known for their involvement in construction loans. HKS Real Estate Advisors, with Max Ralby as the broker, facilitated the deal.
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
1.02%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93