Davean Holdings Acquires Mixed-Use Property On Court Street For $4.55M
181 Court St, Brooklyn, NY 11201, USA
$3,800,000
$560/SF
Building Size
6,780 SF
Asset Type
Mixed-use
Closing
Jul 20, 2020
AI
181 Court Street, a mixed-use property located in a prime retail corridor, has been sold for $4,550,000. The property spans 6,780 square feet, resulting in a price per square foot of $671. It consists of 6 apartments and 1 store, all of which were delivered vacant. The seller of the property was Elizabeth Matthews, while the buyer was @DaveanHoldings, represented by Sean Lefkovits and David Lloyd.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $4,550,000
- Address: 181 Court Street
- Square Footage: 6,780
- Price per Square Foot: $671
- Units: 6 Apartments & 1 Store
- Seller: Elizabeth Matthews
- Buyer: @DaveanHoldings - Sean Lefkovits & David Lloyd
The deal was facilitated by Derek Bestreich, Luke Sproviero, and Gabriel Kates from Bestreich Realty Group, who represented the buyer in the transaction. The property's location, situated next to Trader Joe's, Bonobos, and Starbucks, contributes to its desirability and potential for future success.
Players
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
4.17%
Cash-on-Cash
-1.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93