Updated Oct 29, 2024
S3 Capital Partners Provides $8M Construction Loan For Greenpoint Multifamily Property
584 Leonard St, Brooklyn, NY 11222, USA
$3,000,000
$5,357/SF
Building Size
560 SF
Asset Type
MultiFamily
Closing
Jul 1, 2020
About this deal
AI
The property involved in the transaction is a multifamily asset located in Greenpoint, Brooklyn. It has a total square footage of 19,424. The transaction took place on January 4, 2023.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,000,000
- Market: Greenpoint, Brooklyn
- Lender: S3 Capital Partners - Robert Schwartz & Shawn Safdie
- Loan Amount: $8,000,000
- Loan Type: Construction
The loan for this transaction was provided by S3 Capital Partners. The loan amount was $8,000,000 and it was a construction loan type. The representatives from S3 Capital Partners involved in the deal were Robert Schwartz and Shawn Safdie.
Players
New York 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
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93