Davean Holdings Acquires Mixed-Use Property On Upper West Side For $6.85M

The mixed-use property located at 237 West 72nd Street in the Upper West Side of New York City has been sold in a recent transaction. The property was purchased from long-term ownership by Davean Holdings, represented by Sean Lefkovits, David Lloyd, and Lance Lefkovits. The seller of the property was Marc Widger.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $6,850,000
• Square Footage: 8,440
• Price Per Square Foot: $811
• Cap Rate: 5.5%
• Market: Upper West Side
• Buyer: Davean Holdings - Sean Lefkovits, David Lloyd & Lance Lefkovits
• Seller: Marc Widger
• Brokers: Paul Smadbeck, Hall Oster & Conrad Martin - JLL

While Davean Holdings is excited about their latest purchase, the transaction also highlights several key aspects of the property. It is located in a prime Upper West Side location, just steps away from Trader Joe's and other top national retailers. The property is 100% free market and benefits from tax class protection. With a 5.5% cap rate at the time of purchase, there is potential for upside in both the retail and residential portions of the property.

Davean Holdings, represented by Sean Lefkovits, David Lloyd, and Lance Lefkovits, is an active buyer actively seeking more opportunities in the market. For inquiries, please contact them at [email protected].