Updated Oct 29, 2024
S3 Capital Partners Provides $8.25M Construction Loan For Williamsburg, Brooklyn Multifamily Property
$8,250,000
$750/SF
Building Size
11,000 SF
Asset Type
MultiFamily
Closing
Jul 24, 2023
About this deal
AI
A construction loan in the amount of $8,250,000 has been secured for a multifamily property located in Williamsburg, Brooklyn. The property has a total square footage of approximately 11,000 and consists of 16 units.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $8,250,000
- Square Footage: 11,000
- Number of Units: 16
- Market: Williamsburg, Brooklyn
The loan was obtained from S3 Capital Partners, with Robert Schwartz and Shawn Safdie acting as the lenders' representatives. The loan type is construction, indicating it will be utilized for development purposes.
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
1.92%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93