Yehuda Kotkes And Daniel Spiegel Of KS Group Secure $300M Construction Loan For Astoria Multifamily
FINANCED
$300,000,000
+ 3
New York
See Similar DealsMultiFamily450,000 SF
Financed 03/21/2025
FINANCED
Yehuda Kotkes And Daniel Spiegel Of KS Group Secure $300M Construction Loan For Astoria Multifamily
MultiFamily450,000 SF
Financed 03/21/2025
+ 3
Summary
Asset Type:MultiFamily
Price Per Square Foot:$666
Total Square Footage:450,000 SF
Transaction Type:Loan
The transaction involves a multifamily asset located in the Astoria market, encompassing 450,000 square feet and comprising 731 units. The loan amount secured for this property is $300,000,000, under construction loan terms of 30 months.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $300,000,000
- Loan Type: Construction
- Loan Terms: 30 Months
- Lender: Robert Schwartz, Steven Jemal & Shawn Safdie - S3 Capital Partners
- Landlord: Yehuda Kotkes & Daniel Spiegel - KS Group
- Broker: Henry Bodek - Galaxy Capital
This deal highlights the collaboration between S3 Capital Partners and KS Group, spearheaded by prominent individuals including Robert Schwartz, Steven Jemal, and Shawn Safdie on the lending side, with Yehuda Kotkes and Daniel Spiegel representing the landlord's interests. Broker Henry Bodek facilitated the transaction, contributing to its successful closure.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$300,000,000.00
Monthly NOI$2,000,000.00
Monthly Debt Service$1,896,204.07
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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