S3 Capital Provides $11,000,000 Construction Loan For Multifamily Development In Manayunk Philadelphia
$11,000,000
$264/SF
Building Size
41,541 SF
Asset Type
MultiFamily
Closing
Jun 2, 2026
AI
The asset involved in this transaction is a multifamily property located in Manayunk, Philadelphia. The property encompasses a total square footage of 41,541 and consists of 36 units. The construction loan for this asset amounts to $11,000,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $11,000,000
- Square Footage: 41,541
- Units: 36
- Market: Manayunk, Philadelphia
- Lender: Steven Jemal - S3 Capital
- Loan Type: Construction
Steven Jemal from S3 Capital facilitated this transaction, marking their first ground-up construction loan closed in Philadelphia. S3 Capital specializes in financing multifamily transactions across various markets, concentrating on loan opportunities that exceed $1 million.
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
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93