The bustling neighborhood of Flatbush, Brooklyn, is set to receive a significant boost in its ongoing revitalization efforts, thanks to a $32 million construction financing deal. S3 Capital Partners, a notable player in the real estate financing arena, has extended this considerable loan to Triple C Builders. This funding will fuel the development of a mixed-use project situated at 2700 Church Avenue. The ambitious seven-story endeavor aims to include 69 rental units, alongside 9,796 square feet dedicated to retail space and a 13,500-square-foot community area. The project’s comprehensive nature underscores its potential to provide essential amenities and housing solutions to the local community, thereby enhancing the neighborhood’s appeal and functionality.
The financing arrangement was meticulously orchestrated by Pinchas Vogel and Leah Paskus of Landstone Capital Group. Robert Schwartz, co-founder and principal of S3 Capital, remarked that this new development would not only supply much-needed rental housing but also contribute vital retail and community spaces. Schwartz emphasized that such projects are vital for the sustained growth and revitalization of urban areas like Flatbush, where the demand for housing and services continually rises. This development is expected to meet some of that demand, reflecting a broader trend of mixed-use projects that offer a combination of living, shopping, and communal spaces.
Strategic Partnerships and Expertise in Urban Development
The lively neighborhood of Flatbush in Brooklyn is poised for a substantial transformation, thanks to a $32 million construction financing deal. S3 Capital Partners, a key player in real estate finance, has granted this sizable loan to Triple C Builders. This funding will drive the construction of a mixed-use project at 2700 Church Avenue. The ambitious seven-story building will feature 69 rental units, 9,796 square feet of retail space, and a 13,500-square-foot community area. The comprehensive nature of this project highlights its potential to offer essential amenities and housing solutions, thereby boosting the neighborhood’s attractiveness and functionality.
The financing deal was expertly coordinated by Pinchas Vogel and Leah Paskus of Landstone Capital Group. Robert Schwartz, co-founder and principal of S3 Capital, noted that this development would address pressing needs for rental housing, retail, and community spaces. Schwartz emphasized that such projects are crucial for the sustained growth and revitalization of urban areas like Flatbush, where there is a constant demand for housing and services. This project aims to meet some of that demand, showcasing a trend toward mixed-use developments that combine living, shopping, and communal spaces.
