FINANCEDMultiFamily
S3 Capital Provides $24 Million Construction Loan For 109-Unit Multifamily Development In Philadelphia
$24,000,000
$217/SF
Building Size
110,545 SF
Asset Type
MultiFamily
Closing
Jul 9, 2026
AI
The transaction involves the construction loan for a ground-up development of a 109-unit rental building in Philadelphia, PA, encompassing a total square footage of 110,545. The loan amount secured for this project is $24,000,000, with S3 Capital serving as the lender providing the necessary financing for this multifamily asset.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $24,000,000
- Square Footage: 110,545
- Units: 109
- Lender: Steven Jemal - S3 Capital
- Brokers: Noah Rothman, Aj Felberbaum & Matteo Yepes - BayBridge Real Estate Capital
- Loan Type: Construction
Steven Jemal is the representative of S3 Capital in this transaction, while Noah Rothman, Aj Felberbaum, and Matteo Yepes represent BayBridge Real Estate Capital. This loan contributes to S3 Capital's efforts in financing multifamily transactions across various markets, focusing on deals exceeding $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
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93