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New York & Tri-State  + Uptown/Bronx  + Finance  |  October 24, 2024
Paul Bubny
By: Paul Bubny

S3 Furnishes Construction Loan for Upper East Side Condos

S3 Capital originated a $24.5-million construction loan for the ground-up development of a luxury condominium project located at 439 E. 77th St. on Manhattan’s Upper East Side. The project’s sponsor is Visabe Corporation. It will feature 16 high-end condo units and premium amenities.

“This project represents an exciting addition to the Upper East Side real estate market,” said Rob Schwartz, co-founder and principal at S3. “We are confident in the success of this development, given its location, the quality of the design, and the robust demand for luxury condos in Manhattan.”

Steven Jemal, director of origination at S3, added, “We are excited to partner with Visabe Corporation, a family office with a rich legacy and proven track record in the Tri-State area and beyond. Their blend of experience, vision, and values aligns perfectly with the ethos of this project, and we look forward to seeing this development take shape on the Upper East Side.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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