Updated Oct 29, 2024
S3 Capital Partners Provides $16M Construction Loan For Multifamily Property In Bushwick, Brooklyn
Bushwick, New York City, New York, United States
$16,000,000
$320,000/SF
Building Size
50 SF
Asset Type
MultiFamily
Closing
Jan 6, 2023
About this deal
AI
A multifamily property in Bushwick, Brooklyn, has recently closed on a construction loan. The property spans approximately 50,500 square feet and is located in a vibrant market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $16,000,000
- Market: Bushwick, Brooklyn
- Loan Type: Construction
S3 Capital Partners, represented by Robert Schwartz and Shawn Safdie, provided the loan for $16,000,000 for the construction of the multifamily property in Bushwick.
The multifamily loan at Bushwick, New York City, New York, United States in Brooklyn, New York financed for $16M in 2023. The building is 50 square feet, implying about 320K per square foot on the published price. Named participants on the Bushwick, New York City, New York, United States loan are Robert Schwartz, Shawn Safdie. This page is the Brooklyn, New York file for the Bushwick, New York City, New York, United States multifamily financed: pricing, party profiles, and other closed multifamily comps from the same Brooklyn sit in the Market section below. Filter that Brooklyn multifamily set by closing date to see what else financed near Bushwick, New York City, New York, United States around 2023. Published consideration for Bushwick, New York City, New York, United States is $16M, dated 2023. Cite this S3 Capital Partners Provides $16M Construction Loan For Multifamily Property In Bushwick, Brooklyn loan when underwriting similar multifamily product around Brooklyn, New York.
Players
Brooklyn 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