facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

New York

/

Mixed Use

/

Loan

/

181 Court St, Brooklyn, NY ...

Davean Holdings Acquires Mixed-Use Property On Court Street For $4.55M
FINANCEDMixed-use

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

Derek Bestreich

Investment Property Realty Group (IPRG)

Broker

$1.1B

vol

315 deals

Broker
Gabriel Kates
Verified Badge

Gabriel Kates

Block Real Estate Group

Broker

$161.7M

vol

61 deals

Broker
Sean Lefkovits

Sean Lefkovits

Davean Holdings

Buyer

$295.5M

vol

34 deals

Buyer
Urban Standard Capital
Urban Standard CapitalLender

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Loan transactions

Loading comparables…

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