facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Mixed Use

/

Loan

/

817 Classon Avenue

Luis Lebovits & Moishe Loketch Secure $13.2 Million Construction Loan From ICross Capital In Brooklyn
FINANCEDMixed-use

Luis Lebovits & Moishe Loketch Secure $13.2 Million Construction Loan From ICross Capital In Brooklyn

817 Classon Avenue

$13,200,000

$754/SF

Building Size

17,500 SF

Asset Type

Mixed-use

Closing

Jan 14, 2025

AI

The property asset involved in this transaction is a mixed-use building located at 817 Classon Avenue in Brooklyn. It encompasses a total square footage of 17,500, highlighting its capacity for various uses within the mixed-use designation.

Summary of transaction details:

The deal involves key individuals such as Luis Lebovits and Moishe Loketch, who are acting as landlords. The brokerage representation is provided by Morris Betesh from Arrow Real Estate Advisors, ensuring professional oversight in the transaction process.

Players

Morris Betesh

Arrow Real Estate Advisors

Broker

$12.4B

vol

214 deals

Broker
iCross Capital
iCross CapitalLender
Moishe Loketch

Moishe Loketch

Landlord

$546.4M

vol

21 deals

Landlord

Brooklyn 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

1.20%

Cash-on-Cash

-0.34%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93