Updated Oct 29, 2024
S3 Capital Partners Provides $16M Construction Loan For Bushwick Multifamily Project
$16,000,000
$320,000/SF
Building Size
50 SF
Asset Type
MultiFamily
Closing
Jan 6, 2023
About this deal
AI
The recent closed property transaction in Bushwick, Brooklyn involved a multifamily asset spanning over 50,500 square feet. The loan for the transaction was provided by S3 Capital Partners, with a total amount of $16,000,000. The loan type for this transaction was construction, indicating that the funds were allocated for the development or renovation of the property.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $16,000,000
- Lender: S3 Capital Partners - Robert Schwartz & Shawn Safdie
The key individuals and companies involved in this deal were Robert Schwartz and Shawn Safdie, representing S3 Capital Partners as the lender. They played a crucial role in facilitating the loan for this multifamily property transaction in Bushwick, Brooklyn.
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
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93