Updated Sep 15, 2026
David Grunfeld's GW Infinity Secures $45 Million Construction Loan From Shawn Safdie At S3 Capital For 99-Unit Project
277 North 8th Street
$45,000,000
Units
99
Asset Type
MultiFamily
Closing
Sep 11, 2026
About this deal
AI
The property involved in this transaction is a 99-unit multifamily project located at 277 North 8th Street in Williamsburg, Brooklyn. The asset is set to undergo leasehold construction, highlighting its intended development focus in the growing market of Williamsburg.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $45,000,000
- Lender: Shawn Safdie - S3 Capital
- Landlord: David Grunfeld - GW Infinity
- Loan Type: Construction
Shawn Safdie, representing S3 Capital, provided the financing for this project, while David Grunfeld, representing GW Infinity, secured the loan. This transaction represents a significant step in the development of new residential spaces within the Williamsburg area.
Players
North 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
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93