S3 Capital Partners closes 85 loans for $915M In 2019
NEW YORK, NY — S3 Capital Partners, a New York City-based private lending platform, closed 85 loans for a total of $915 million in 2019. S3 Capital is the New York metropolitan area’s most active lender with 150 active loans in the five boroughs of New York City and New Jersey. S3 Capital closed the year with a $250 million loan to the McSam Hotel Group for 150 West 48 St. The financing, a $210 million first lien and a $40 million mezzanine loan, is for the acquisition and construction of a new hotel development in Manhattan’s Theatre District. Among S3 Capital’s other notable 2019 loans were $65 million for the development of 190 residential units and 20 extended-stay units at 224 East 135th St. in The Bronx; $50 million for the renovation and development of 10 & 26 Quincy St. in Brooklyn’s Clinton Hill; $44 million for the development of 55 condominium units at 1300 Manhattan Ave. in Union City, NJ; $40 million as a land loan for a 600,000 s/f development of a hotel and two condo buildings at 131-02 40th Rd. in Queens, and $38.5 million for the development of 146 rental units and 20,000 s/f of retail at 176 Kinderkamack Rd. in Emerson, NJ.