Firm Overview:

S3 Capital is a flexible lending platform that originates construction and bridge financing. S3 Capital is the lending arm of Spruce Capital Partners, which provides equity solutions for various types of real estate projects. S3 was established in 2014 and is currently deploying their 4th fund of capital.

Since its inception, S3 Capital has originated more than 340 first mortgages, with a current portfolio of over 130 active loans totaling over $2 billion. The firm has deep development experience and is especially well positioned to streamline the construction process. It has a committed pool of capital, funding construction draws and responding quickly to meet all borrower needs. S3 is a user-friendly and creative capital provider that values long-term relationships and repeat business. S3 has Specialized market knowledge and brings an entrepreneurial approach to uncovering and creating value. All facets of the business are handled in-house, including originations, underwriting, servicing and construction monitoring. Their capital is a blend of high net worth and institutional capital. 

High Level Lending Parameters:

  • Financing Products:
    • Stretched senior construction loans & heavy lift or transitional bridge loans. Will also finance condo inventory loans. 
  • Loan Amounts: $1 – 250 MM
  • Loan-to-Cost: Up to 80% LTC
  • Lending Terms: Up to 3 Years
  • Lending Focus: Primarily NYC Metro, Northern Jersey and South Florida. Pushing into markets like Austin, Dallas, Raleigh, and Charlotte (Prefer $15M + deal size for these locations).
  • Interest Rate: 6.75 – 9% 
    • Larger balance loans will be on the lower end, while small balance will typically be 8 – 9%. 
  • Ground up (7.5% – 8.5%) – larger balance
  • Smaller balance (8% – 9%). Upper single digits.
  • Asset Class: Multi, condo and SFR. Selective on office, retail and land loans.


For loan inquiries, please contact Steven Jamal, a Director at S3 Capital for 5 years. Steven originates and underwrites loans for the firm.

Contact Info:

  • E-mail:
  • Office Number: (212)-300-8815

Recently Closed Deals:

  • Oakland Park, Florida. Closed a $67.5 MM ground up construction loan for a 274-unit multifamily building with 20,000 SF of retail. This was the first new Class A Oakland Park project in the submarket. With a lack of comps available in the market, S3 was able to get comfortable with the market and Sponsors, as they believed there would be tremendous spillover from the surrounding markets. S3 exhibited their pioneering and entrepreneurial nature through this transaction. 
  • Acquisition and condo conversion on the Upper West Side in NYC. Sponsor purchased two buildings. One was a vacant 11-unit building. The other one was fully occupied. Sponsor was holding onto the cash-flowing property and gut renovating the vacant one into two luxury condo units. S3 was able to put a release price on the stabilized property.
  • Closed a condo conversion project in Tower Gardens, Brooklyn. Sponsor bought 4 units and plans on converting them into 3 condos. The $4.5 MM deal came out to be about 65-70% of purchase price, and 100% of hard costs. 
  • $60 MM construction loan for a 12-story, 215-unit multifamily project in the Bronx neighborhood of Mott Haven across 195,000 square feet. 

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