S3 Capital Provides $45,000,000 Construction Loan For 99-Unit Multifamily Development In Williamsburg

The asset involved in this transaction is a multifamily property located in Williamsburg, Brooklyn. A construction loan amounting to $45,000,000 was secured for the development of a 99-unit rental building, backed by a 99-year ground lease.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $45,000,000
• Loan Type: Construction
• Lender: Robert Schwartz & Shawn Safdie - S3 Capital
• Market: Williamsburg, Brooklyn
• Note from Lender: Construction loan for the development of a 99-unit rental building secured by a 99-year ground lease.

Robert Schwartz and Shawn Safdie, representing S3 Capital, are key individuals in this transaction, which focuses on financing multifamily developments across various markets, particularly those exceeding $1 million in loan opportunities.