Davean Holdings Secures $26M Loan For Mixed-Use Property On Macdougal Street In Greenwich Village

The property involved in this transaction is located at 103-105 Macdougal Street in Greenwich Village. It is a mixed-use property with a total square footage of 40,000. The asset was purchased by @DaveanHoldings for $22.5 million in the summer of 2020. Since then, @DaveanHoldings has renovated more than 50 residential units and leased out the 7,000+ square foot retail space.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $22.5 million
• Market: Greenwich Village
• Lender: Sterling National Bank
• Landlord: @DaveanHoldings - Sean Lefkovits & David Lloyd
• Brokers: Dustin Stolly, Jordy Roeschlaub, Eden Abraham & Daniel Fromm @Newmark
• Loan Amount: $26,000,000
• Loan Terms: 3.125% Rate, 2 Years I/O, 5 Year Fixed

@DaveanHoldings is also currently under contract on 12 other properties in Manhattan or Prime BK. For more investment opportunities, they can be contacted via email at [email protected].