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S3 Capital Provides $105M for Mott Haven Development
S3 Capital Partners has provided a $105-million loan to Jacob Schwimmer’s JCS Realty for the development of 138 Bruckner Blvd., a new mixed-use project in the Bronx’s Mott Haven neighborhood. It will contain 447 rental units and ground-floor commercial.
New York City-based S3 enjoys a longstanding relationship with JCS as 138 Bruckner Blvd. becomes the fifth deal to close between the two parties since 2017. S3 Capital also provided $60 million in construction financing for JCS Realty’s successful 215-unit rental residential development at 276 Grand Concourse, which recently completed construction.
“We believe there is enormous opportunity in Mott Haven and the rest of the South Bronx, and we remain excited about the prospects for housing developed near transit centers with direct access to Midtown,” said Joshua Crane, managing partner and co-founder of S3. “We have seen remarkable success with developments in this area and 138 Bruckner will continue this trend.”
- ◦Development
- ◦Financing
