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368 Court Street

Davean Holdings Sells Mixed-Use Property In Carroll Gardens, Brooklyn For $5.185M
SOLDMixed-use

Davean Holdings Sells Mixed-Use Property In Carroll Gardens, Brooklyn For $5.185M

368 Court Street

$5,185,000

$1,058/SF

Building Size

4,900 SF

Asset Type

Mixed-use

Closing

May 15, 2024

AI

The mixed-use property located at 368 Court Street in Carroll Gardens, Brooklyn, was sold for $5,185,000. The building spans 4,900 square feet, resulting in a price per square foot of $1,058. The property was previously purchased by Davean Holdings for $2,900,000 in 2021.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $5,185,000
  • Address: 368 Court Street
  • Market: Carroll Gardens, Brooklyn

The sale of the property was facilitated by the Investment Property Realty Group (IPRG). The brokers involved in the transaction were Derek Bestreich, Luke Sproviero, Adam Lobel, Toby Waring, Samantha Katz, and Alon Kahan. The sellers of the property were Davean Holdings, represented by Sean Lefkovits, Lance Lefkovits, and David Lloyd. A noteworthy detail is that Davean Holdings acquired the building for $2,900,000 in 2021.

Players

Adam Lobel

Investment Property Realty Group (IPRG)

Broker

$602.2M

vol

141 deals

Broker

Brooklyn 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

3.06%

Cash-on-Cash

-0.87%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93