S3 Capital Finances $12.5M Construction Loan For 23-Unit Condo Development In Fort Greene, Brooklyn | 167 Willoughby Street | S3 Capital | Drew De Risi | Development Site | Loan

Summary

Loan

NEW YORK

Development Site

30,225 sqft

A construction financing loan in the amount of $12,500,000 has been secured for the development of a 23-unit condo property located at 167 Willoughby Street in Fort Greene, Brooklyn. The loan, provided by S3 Capital Partners, will be used for the construction of the development site, which spans 30,225 square feet.

Summary of transaction details:

Property Type: Development Site
Transaction Amount: $12,500,000
Address: 167 Willoughby Street
Market: Fort Greene, Brooklyn
Lender: S3 Capital Partners

The loan was facilitated by Drew De Risi, representing S3 Capital, as the originator. The landlord of the development site is Boomerang Development Group, represented by Marco Auteri, Giovanni Ferrara, and Daniel Pipitone.

Players

All
2

Agents
1
Lenders
1

Drew De Risi

Executive Vice President

Details

Deal Summary

FINANCED

IMAGE: Drew De Risi, Robert Schwartz and Steven Jemal DATE: 01/03/2019 ADDRESS: 167 Willoughby Street MARKET: Fort Greene, Brooklyn ASSET TYPE: Development Site LENDER: @S3Capital Partners LANDLORD: Boomerang Development Group - Marco Auteri, Giovanni Ferrara, Daniel Pipitone BROKER: Drew De Risi (@Dderisi) ORIGINATOR: Steven Jemal (@sfjemal) - S3 Capital LOAN AMOUNT: $12,500,000 LOAN TERMS: Construction Financing SF: 30,225 UNIT: 23 NOTES: Construction financing for the development of a 23-unit condo property.

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Address167 Willoughby Street

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