Updated Jan 2, 2026
S3 Capital Partners Provides $6.35 Million Construction Loan For Multifamily Asset In Ithaca
$6,350,000
$113/SF
Building Size
56,098 SF
Asset Type
MultiFamily
Closing
Dec 7, 2025
About this deal
AI
The property is a multifamily asset located in Ithaca, comprising 56,098 square feet and consisting of 71 units. A loan amount of $6,350,000 was secured for construction purposes.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,350,000
- Loan Type: Construction
- Lender: Robert Schwartz & Steven Jemal - S3 Capital Partners
- Broker: Raffi Landau - Estreich & Company
- Date: 12/8/2025
Robert Schwartz and Steven Jemal, as representatives of S3 Capital Partners, are engaged in financing multifamily transactions in various markets, focusing on opportunities exceeding $1 million. Raffi Landau from Estreich & Company acted as the broker in this transaction.
Players
Market 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
2.50%
Cash-on-Cash
-0.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93