Updated Oct 29, 2024
S3 Capital Partners Provides $1.7M Construction Completion Loan For Multifamily Property In Williamsburg, Brooklyn
$1,700,000
Building Size
—
Asset Type
MultiFamily
Closing
Sep 5, 2023
About this deal
AI
A construction completion loan of $1,700,000 has been secured for a multifamily property in Williamsburg, Brooklyn. The loan was provided by S3 Capital Partners, with Robert Schwartz and Shawn Safdie representing the lender.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,700,000
- Lender: S3 Capital Partners
- Lender Representative: Robert Schwartz & Shawn Safdie
- Loan Type: Construction Completion
Notable individuals involved in the transaction include Robert Schwartz and Shawn Safdie, who represented S3 Capital Partners as the lenders. The loan amount of $1,700,000 will be utilized for the completion of the construction project for the multifamily property located in Williamsburg, 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
9.33%
Cash-on-Cash
-2.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93