S3 Capital Provides $15,250,000 Construction Loan For 39-Unit Multifamily Development In Gowanus Brooklyn

The property asset involved in this transaction is a multifamily building located in Gowanus, Brooklyn, with a total square footage of 26,121 and comprising 39 rental units. The loan amount secured for this ground-up development project is $15,250,000, classified as a construction loan.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $15,250,000
• Market: Gowanus, Brooklyn
• Asset Size: 26,121 SF
• Units: 39
• Lender: Robert Schwartz & Shawn Safdie - S3 Capital
• Loan Type: Construction

The deal is represented by Robert Schwartz and Shawn Safdie, who are part of S3 Capital, a prominent capital provider in the multifamily financing sector. S3 Capital focuses on loan opportunities that exceed $1 million and services markets ranging from New York to Texas. The development aims to construct a 39-unit rental building.