David Lloyd & Sean Lefkovits Acquire Mixed-Use Property In East Village For $25.5M
163-167 First Avenue
$25,500,000
$864/SF
Building Size
29,500 SF
Asset Type
Mixed-use
Closing
Aug 11, 2022
About this deal
AI
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.
On the Map
$25,500,000
$864/SF
Mixed-use
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Players
Kingston Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.62%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93