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
About this deal
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:
- Property Type: Mixed-use
- Transaction Amount: $13,200,000
- Lender: iCross Capital
- Landlord: Luis Lebovits & Moishe Loketch
- Broker: Morris Betesh - Arrow Real Estate Advisors
- Loan Type: Construction
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.
On the Map
$13,200,000
$754/SF
Mixed-use
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Players
Brooklyn 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
1.20%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93