Updated Oct 29, 2024
S3 Capital Partners Provides $3.55M Construction Loan For Greenpoint Multifamily
$3,550,000
$486/SF
Building Size
7,295 SF
Asset Type
MultiFamily
Closing
Jul 25, 2023
About this deal
AI
A construction loan in the amount of $3,550,000 has been secured for a multifamily property in Greenpoint, Brooklyn. The property spans approximately 7,295 square feet and consists of four units. The loan was provided by S3 Capital Partners, with Robert Schwartz and Shawn Safdie representing the lender. The loan will be used to fund construction activities for the property.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,550,000
- Total Square Footage: 7,295
- Number of Units: 4
S3 Capital Partners, represented by Robert Schwartz and Shawn Safdie, served as the lender for this construction loan. The loan will support the development of the multifamily property in Greenpoint, 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
4.47%
Cash-on-Cash
-1.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93