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

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FINANCED
$3,800,000
Gabriel Kates
Eric Gleitman
+ 3

New York

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Mixed-use6,780 SF
Financed
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FINANCED

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

181 Court St, Brooklyn, NY 11201, USA

See Similar Deals
Mixed-use6,780 SF
Financed
Gabriel Kates
Eric Gleitman
+ 3
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Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$560
Total Square Footage:6,780 SF
Transaction Type:Loan

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
312 deals$1.1B volume(718) 360-8802
BROKER

Eric Gleitman
Mercury Capital Markets
24 deals$126.1M volume
BROKER

Luke Sproviero
Investment Property Realty Group (IPRG)
222 deals$824.7M volume
BROKER

Gabriel Kates
Block Real Estate Group
58 deals$155.8M volume(508) 365-8278
BROKER

Sean Lefkovits
Davean Holdings
34 deals$295.5M volume
BUYER

David Lloyd
Davean Holdings
31 deals$266.4M volume
BUYER

Urban Standard Capital
LENDER

Details

FINANCED
IMAGE: Derek Bestreich, Sean Lefkovits, Luke Sproviero, David Lloyd & Gabriel Kates DATE: 07/21/2020 ADDRESS: 181 Court Street ASSET TYPE: Mixed-use SALE PRICE: $4,550,000 SF: 6,780 ~ PPSF: $671 UNITS: 6 Apartments & 1 Store SELLER: Elizabeth Matthews BUYER: @DaveanHoldings - Sean Lefkovits & David Lloyd BROKERS: Derek Bestreich, Luke Sproviero, Gabriel Kates - Bestreich Realty Group (@BRG_CRE) NOTE: Apartments delivered 100% Vacant in prime retail corridor, next to Trader Joe’s, Bonobos, and Starbucks.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$3,800,000.00

Monthly NOI$25,333.33
Monthly Debt Service$24,018.58
Change in Cash Flow$0.00
Refinance Proceeds$0.00