Updated Apr 1, 2025
S3 Capital Partners Provides $210 Million Construction Loan For Multifamily Asset In Sunset Park Brooklyn
$210,000,000
$271/SF
Building Size
774,727 SF
Asset Type
MultiFamily
Closing
Mar 14, 2025
About this deal
AI
A multifamily property located in Sunset Park, Brooklyn, features 774,727 square feet and consists of 497 units. The loan for this asset was set at $210,000,000 and is classified as a construction loan with a term of 30 months.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $210,000,000
- Market: Sunset Park, Brooklyn
- Lender: Robert Schwartz, Steven Jemal & Shawn Safdie - S3 Capital Partners
- Broks: Morris Betesh, Alex Bailkin & Israel Mermelstein - Arrow Real Estate Advisors
The deal was facilitated by S3 Capital Partners, represented by Robert Schwartz, Steven Jemal, and Shawn Safdie. The brokerage team from Arrow Real Estate Advisors included Morris Betesh, Alex Bailkin, and Israel Mermelstein, who played key roles in arranging the financing for this multifamily development.
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
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93