S3 Capital Partners Provides $6.85M Construction Loan For Multifamily Asset In Long Island City
FINANCED
$6,850,000
New York
See Similar DealsMultiFamily8,327 SF
Financed
FINANCED
S3 Capital Partners Provides $6.85M Construction Loan For Multifamily Asset In Long Island City
MultiFamily8,327 SF
Financed
Summary
Asset Type:MultiFamily
Price Per Square Foot:$822
Total Square Footage:8,327 SF
Transaction Type:Loan
The asset involved in this transaction is a multifamily property located in Long Island City. The property encompasses a total square footage of 8,327 and includes 7 units. The lender for the construction loan is S3 Capital Partners, represented by Robert Schwartz and Steven Jemal. The loan amount is $6,850,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,850,000
- Square Footage: 8,327
- Units: 7
- Market: Long Island City
- Lender: Robert Schwartz & Steven Jemal - S3 Capital Partners
- Loan Type: Construction
Robert Schwartz and Steven Jemal work for S3 Capital Partners, which is known for providing capital for multifamily transactions. The firm focuses on financing opportunities exceeding $1 million, covering markets from New York to Texas. For inquiries regarding the loan, interested parties can reach out to Steven Jemal via email at [email protected].
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$6,850,000.00
Monthly NOI$45,666.67
Monthly Debt Service$43,296.66
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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