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**S3 Capital Provides $81M Loan for Luxury Condo Development in Greenpoint**
S3 Capital has closed on an $81 million construction loan to finance the development of a luxury condominium project at 19-29 Clay Street in Brooklyn’s Greenpoint neighborhood. The 14-story property, being developed by Investmates, will feature 68 upscale residential units and approximately 14,000 square feet of ground-floor retail space. Investmates is known for its focus on condominium construction in Greenpoint and neighboring Williamsburg.
The development will offer a variety of one- to four-bedroom residences and a comprehensive suite of amenities, including a 24-hour doorman, co-working spaces, a furnished rooftop, landscaped garden, children’s playroom, and a pet spa.
S3 Capital has a longstanding relationship with Investmates and previously provided a $12.15 million land loan for this project’s development site in 2022.
“The 19-29 Clay Street loan reflects the strength of our deep relationships with seasoned local developers in highly desirable submarkets,” said Shawn Safdie, who led origination for S3 Capital. “Our flexible and efficient financing approach allows developers to quickly execute with confidence.”
*Rendering courtesy of AB Architekten.*
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