Posted Sep 16, 2025, 6:56 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 56,652
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https://commercialobserver.com/2025/09/s3-capital-construction-loan-midtown-apartment/
S3 Capital Provides $80M Construction Loan for Midtown Apartment Tower
Construction of the 131-unit apartment complex is expected to take two years
BY BRIAN PASCUS
SEPTEMBER 16, 2025
Quote:
Brooklyn-based developer David Halberstam has secured $80 million in construction financing to build a 131-unit rental property at 303 East 44th Street in Midtown Manhattan, Commercial Observer can first report.
S3 Capital provided the refinancing and construction debt. No broker was listed on the transaction.
The new building will offer units ranging from studios to three-bedrooms and will feature amenities such as a fitness center, a climbing wall, a rooftop pool, a co-working lounge and a clubhouse. The development is financed under the 485x tax abatement program, which will keep dozens of units affordable, while a majority will be market-rate and cater to luxury buyers.
Construction is expected to be completed by the third quarter of 2027.
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