S3 Capital Partners Provides $210 Million Construction Loan For Multifamily Asset In Sunset Park Brooklyn
FINANCED
$210,000,000
+ 3
New York
See Similar DealsMultiFamily774,727 SF
Financed 03/14/2025
FINANCED
S3 Capital Partners Provides $210 Million Construction Loan For Multifamily Asset In Sunset Park Brooklyn
MultiFamily774,727 SF
Financed 03/14/2025
+ 3
Summary
Asset Type:MultiFamily
Price Per Square Foot:$271
Total Square Footage:774,727 SF
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$210,000,000.00
Monthly NOI$1,400,000.00
Monthly Debt Service$1,327,342.85
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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