FINANCEDMixed-use
Davean Holdings Refinances Cobble Hill Properties For $10.3M With LMF Commercial
131 Smith Street, Brooklyn, NY, USA
$10,300,000
$2,112/SF
Building Size
4,876 SF
Asset Type
Mixed-use
Closing
Feb 11, 2021
AI
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $10,300,000
- Units: 11
- Address: 131 Smith St. & 181 Court St.
- Market: Cobble Hill, Brooklyn
- Lender: LMF Commercial (A Lennar Co.)
- Landlord: Sean Lefkovits, David Lloyd & Lance Lefkovits
- Brokers: Jonathan Singer - Strategic Funding & Robert Tobias - RJT Capital
Players
LMF CommercialBrokerage
LMF CommercialLender
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.54%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93