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S3 Capital Finances $12.5M Construction Loan For 23-Unit Condo Development In Fort Greene, Brooklyn

167 Willoughby Street
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This Development Site property located in NY received a loan of $12,500,000 about 5 years ago. The broker of the deal was Drew De Risi

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.

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Deals
  • Location
    167 Willoughby Street, Fort Greene, Brooklyn, NY, USA167 Willoughby Street, Fort Greene, Brooklyn, NY, USA
  • Loan Value
    $12,500,000$12,500,000
  • Asset Type
    Development SiteDevelopment Site
  • Parties
    1 Broker1 Broker

Agent

Drew De Risi

Drew De Risi

Deals1
Financed$12.5M

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Deal Summary

LOAN 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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167 Willoughby Street

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