Updated Oct 28, 2024
S3 Capital Partners Provides $13.25M Construction Loan For Prospect Lefferts Gardens Multifamily
Prospect Lefferts Gardens, New York City, New York, United States
$13,250,000
$259/SF
Building Size
51,000 SF
Asset Type
MultiFamily
Closing
Jul 7, 2022
About this deal
AI
A construction loan in the amount of $13,250,000 has been provided by S3 Capital Partners to fund a multifamily property in Prospect Lefferts Gardens, Brooklyn. The property, spanning 51,000 square feet, comprises 42 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $13,250,000
- Market: Prospect Lefferts Gardens, Brooklyn
- Square Footage: 51,000
- Units: 42
S3 Capital Partners, represented by Robert Schwartz and Steven Jemal, is the lender for this construction loan. For any loan inquiries, interested parties can contact Steven Jemal at [email protected].
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.20%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93