David Lloyd & Sean Lefkovits Acquire Mixed-Use Property In East Village For $25.5M
SOLD
$25,500,000
+ 2
New York
See Similar DealsMixed-use29,500 SF
Sold 08/11/2022
SOLD
David Lloyd & Sean Lefkovits Acquire Mixed-Use Property In East Village For $25.5M
163-167 First Avenue
See Similar DealsMixed-use29,500 SF
Sold 08/11/2022
+ 2
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$864
Total Square Footage:29,500 SF
Transaction Type:Sale
The mixed-use property located at 163-167 1st Avenue in the East Village has been sold. The transaction was completed for a sale price of $25,500,000. The property spans approximately 29,500 square feet, resulting in a price per square foot of $864. The asset consists of a combination of residential and commercial spaces.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $25,500,000
- Market: East Village
- SF: 29,500
- PPSF: $864
- Address: 163-167 1st Avenue
The property was bought by David Lloyd and Sean Lefkovits from the seller, Josh Halegua. The deal was facilitated by brokers Aaron Jungreis, Alex Fuchs, and Ben Khakshoor from Rosewood Realty Group.
According to the brokers, the property offers several noteworthy features, including approximately a 5-cap rate, predominantly free market units, tax class protection, and over 100 feet of wrap-around frontage.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,360,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$90,596.11
Cash-on-Cash Return-1.27%
Monthly Debt Service$120,883.01
Annual Debt Service$1,450,596.11
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