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S3 Capital Provides $131.5M Loan For 28-Story Student Housing Development By Edge Property Group

Property Image
FINANCED
$131,500,000
Maxwell (Max) Hulsh
Andrew Cohen
Steven Jemal
+ 4

New York

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Student Housing206,034 SF
Financed 05/06/2026
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Property Image
FINANCED

S3 Capital Provides $131.5M Loan For 28-Story Student Housing Development By Edge Property Group

Student Housing206,034 SF
Financed 05/06/2026
Maxwell (Max) Hulsh
Andrew Cohen
Steven Jemal
+ 4
the dealplayerscompscontact
Contact now

Summary

Asset Type:Student Housing
Price Per Square Foot:$638
Total Square Footage:206,034 SF
Transaction Type:Loan

The property asset involved is a 28-story student housing complex located in Washington Heights, comprising 321 beds and a total area of 206,034 square feet. It was financed with a construction loan amounting to $131,500,000.

Summary of transaction details:

  • Property Type: Student Housing
  • Transaction Amount: $131,500,000
  • Lender: Robert Schwartz & Steven Jemal - S3 Capital
  • Landlord: Edge Property Group
  • Brokers: Max Herzog, Eric Toddy, Marko Kazanjian, Max Hulsh & Andrew Cohen - Institutional Property Advisors (IPA)
  • Loan Type: Construction

The deal involved prominent figures in the real estate and finance sectors, including Robert Schwartz and Steven Jemal as the lenders. The institutional brokerage, Institutional Property Advisors, represented the landlords and played a key role in facilitating the transaction, ensuring collaboration among the involved parties.

Players

Marko Kazanjian
Institutional Property Advisors
Marko Kazanjian
71 deals$5.4B volume
BROKER
Max Herzog
Institutional Property Advisors
Max Herzog
80 deals$5.4B volume(212) 430-5165
BROKER
Andrew Cohen
Institutional Property Advisors
Andrew Cohen
43 deals$3B volume
BROKER
Maxwell (Max) Hulsh
Institutional Property Advisors
Maxwell Hulsh
32 deals$2.8B volume(646) 549-3692
BROKER
Eric Toddy
Colliers
Eric Toddy
2 deals$152.5M volume(610) 937-6844
BROKER
Steven Jemal
S3 Capital
Steven Jemal
117 deals$3.1B volume
LENDER
EG
EDGE Property Group
LANDLORD

Details

FINANCED
IMAGE: Robert Schwartz, Steven Jemal, Eric Toddy, Marko Kazanjian, Max Herzog, Andrew Cohen & Max Hulsh DATE: 5/27/2026 MARKET: Washington Heights ASSET TYPE: Student Housing ~ 28 Stories | 321 Beds | 206,034 SF LENDER: Robert Schwartz & Steven Jemal (@SFJemal) - S3 Capital (@S3Capital) LANDLORD: Edge Property Group BROKERS: Max Herzog, Eric Toddy, Marko Kazanjian, Max Hulsh & Andrew Cohen - Institutional Property Advisors (IPA) LOAN AMOUNT: $131,500,000 LOAN TYPE: Construction NOTE FROM LENDER: S3 Capital is a leading capital provider actively financing multifamily transactions across markets from New York to Texas, with a focus on loan opportunities exceeding $1 million. Please reach out to Steven at [email protected] with any loan inquiries.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$131,500,000.00

Monthly NOI$876,666.67
Monthly Debt Service$831,169.45
Change in Cash Flow$0.00
Refinance Proceeds$0.00