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
Brooklyn Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
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