Updated Oct 28, 2024
S3 Capital Partners Provides $4.75M Construction Loan For Multifamily Property At 785 Fairmount Place, Crotona, Bronx
785 Fairmount Place, Bronx, NY 10460
$4,750,000
$419/SF
Building Size
11,320 SF
Asset Type
MultiFamily
Closing
Jan 19, 2022
About this deal
AI
A multifamily property located at 785 Fairmount Place in Crotona, Bronx has recently undergone a closed transaction. The property spans a total square footage of 11,320 and consists of 25 units. The transaction took place in the Crotona market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Date: 01/19/2022
- Address: 785 Fairmount Place, Crotona, Bronx
- Square Footage: 11,320
- Number of Units: 25
The loan for this transaction was provided by S3 Capital Partners, represented by Robert Schwartz. The loan amount was $4,750,000 and it was a construction loan.
Robert Schwartz from S3 Capital Partners served as the lender for this transaction, providing a construction loan for the multifamily property at 785 Fairmount Place in Crotona, Bronx.
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
3.34%
Cash-on-Cash
-0.95%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93