Steven Jemal Of S3 Capital Provides $4,399,999 Loan For Boerum Hill Multifamily Development
$4,399,999
$514/SF
Building Size
8,553 SF
Asset Type
MultiFamily
Closing
Jul 24, 2026
AI
The asset involved in this transaction is a multifamily property located in Boerum Hill, Brooklyn, comprising 8,553 square feet and consisting of 3 units. The loan amount for this construction project is $4,399,999, aimed at the ground-up development of a 3-unit condo building.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,399,999
- Asset Size: 8,553 SF
- Units: 3
- Lender: Steven Jemal - S3 Capital
- Loan Type: Construction
Steven Jemal represents S3 Capital, a leading capital provider specializing in multifamily transactions across various markets including New York and Texas, focusing on loan opportunities exceeding $1 million. The development aims to provide new housing units in the area.
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
3.61%
Cash-on-Cash
-1.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93