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368 Court Street, Carroll G...

Davean Holdings Acquires Mixed-Use Property In Carroll Gardens, Brooklyn For $2.9M
SOLDMixed-use

Davean Holdings Acquires Mixed-Use Property In Carroll Gardens, Brooklyn For $2.9M

368 Court Street, Carroll Gardens, Brooklyn, NY, USA

$2,900,000

$630/SF

Building Size

4,600 SF

Asset Type

Mixed-use

Closing

Oct 28, 2021

AI

Davean Holdings, represented by Sean Lefkovits, Lance Lefkovits, and David Lloyd, has acquired a mixed-use property located at 368 Court Street (266 President Street) in Carroll Gardens, Brooklyn. The property was sold by Louise Rotundo. The sale, facilitated by Tapu Naik from Stardust Properties, closed on October 28, 2021, for a total purchase price of $2,900,000.

Summary of transation details

  • Property Type: Mixed-use
  • Transaction Amount: $2,900,000
  • Units: 5
  • Price per Unit (PPU): $580,000
  • Total Square Footage: 4,600 sqft
  • Price per Square Foot (PPSF): $630
  • Market: Carroll Gardens, Brooklyn

This prime corner property in Carroll Gardens features three floor-through units with abundant natural light and ventilation, located above two retail spaces. Davean Holdings plans to combine the retail spaces to create a desirable restaurant space for the neighborhood. For any restaurant inquiries or new deals, reach out to Davean Holdings at [email protected].

Players

Tapu Naik

Broker

$2.9M

vol

1 deal

Broker
Sean Lefkovits

Sean Lefkovits

Davean Holdings

Buyer

$295.5M

vol

34 deals

Buyer

New York 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

5.47%

Cash-on-Cash

-1.56%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93