{"id":27438,"date":"2025-11-03T21:44:16","date_gmt":"2025-11-03T21:44:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/27438\/"},"modified":"2025-11-03T21:44:16","modified_gmt":"2025-11-03T21:44:16","slug":"s3-capital-supplies-81m-construction-loan-for-greenpoint-condos-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/27438\/","title":{"rendered":"S3 Capital Supplies $81M Construction Loan for Greenpoint Condos \u2013 Commercial Observer"},"content":{"rendered":"<p>Brooklyn developer <a href=\"https:\/\/commercialobserver.com\/company\/investmates\/\" title=\"Investmates\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Investmates<\/a> has sealed $81 million of construction financing to build a condominium project in Greenpoint, Commercial Observer can first report.<\/p>\n<p><a href=\"https:\/\/commercialobserver.com\/company\/s3-capital\/\" title=\"S3 Capital\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">S3 Capital<\/a> provided the loan for Investmates\u2019 planned 68-unit condo development at 19-29 Clay Street, near the intersection with Commercial Street in northern Greenpoint. Investmates <a target=\"_blank\" rel=\"noopener nofollow\" href=\"https:\/\/blog.marketproof.com\/new-building-permit-filed-for-19-clay-st-in-greenpoint-brooklyn\/\">filed permits<\/a> to construct the 14-story residential building with roughly 14,000 square feet of ground-floor retail space in September to replace a two-story structure built in 1931.\u00a0<\/p>\n<p>SEE ALSO: <a href=\"https:\/\/commercialobserver.com\/2025\/11\/j-p-morgan-community-development-mounting-in-massachusetts\/\" rel=\"nofollow noopener\" target=\"_blank\">J.P. Morgan Community Development Mounting in Massachusetts<\/a><\/p>\n<p>Shawn Safdie, managing director at S3, led origination efforts for the deal. S3 also provided a $12.15 million land loan for the Greenpoint development site in 2022.\u00a0<\/p>\n<p>\u201cThe 19-29 Clay Street loan reflects the strength of our deep relationships with seasoned local developers in highly desirable submarkets,\u201d Safdie said in a statement.\u00a0<\/p>\n<p>The condo tower, which is slated for completion in fall 2027, will have a mix of one-\u00a0 to four-bedroom condos. Community amenities will include coworking space, a children\u2019s playroom, and a pet spa.<\/p>\n<p>Investmates co-founders Koby Telyas and Idan Shitrit said in a joint statement that\u00a0<\/p>\n<p>Greenpoint and Brooklyn overall has an \u201cenduring appeal\u201d and \u201ccontinues to attract new residents and investment.\u201d<\/p>\n<p>Andrew Coen can be reached at <a href=\"https:\/\/commercialobserver.com\/2025\/11\/s3-capital-greenpoint-brooklyn-condos\/mailto:acoen@commercialobserver.com\" rel=\"nofollow noopener\" target=\"_blank\">acoen@commercialobserver.com<\/a>.\u00a0<\/p>\n<p>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Brooklyn developer Investmates has sealed $81 million of construction financing to build a condominium project in Greenpoint, Commercial&hellip;\n","protected":false},"author":2,"featured_media":27439,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[17286,17287,9,11,10,17288],"class_list":["post-27438","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-idan-shitrit","tag-koby-telyas","tag-new-york","tag-new-york-headlines","tag-new-york-news","tag-shawn-safdie"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/27438","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=27438"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/27438\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/27439"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=27438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=27438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=27438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}