Updated Oct 29, 2024
S3 Capital Partners Provides $2.5M Acquisition & Construction Loan For Multifamily Property In New York City
$2,500,000
$503/SF
Building Size
4,970 SF
Asset Type
MultiFamily
Closing
Apr 25, 2023
About this deal
AI
The loan transaction involving a multifamily property in New York City has been successfully completed. The property spans approximately 4,970 square feet and comprises two units. The loan, facilitated by S3 Capital Partners, was secured for a total amount of $2,500,000. This acquisition and construction loan will support the development and renovation of the property.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,500,000
- Square Footage: 4,970
- Number of Units: 2
Representing the lending institution, S3 Capital Partners, Robert Schwartz and Steven Jemal played a key role in facilitating this loan transaction. For any inquiries regarding the loan, interested parties can reach out to Steven Jemal at [email protected].
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
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93