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Davean Holdings, Sean Lefkovits, David Lloyd, And Lance Lefkovits Acquire Mixed-Use Property In Brooklyn For $3.3M

Property Image
SOLD
$3,300,000
Kyle Talbott
Sean Lefkovits
David Lloyd
+ 1

New York

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Mixed-use4,487 SF
Sold 09/03/2021
the dealplayerscompscontact
Property Image
SOLD

Davean Holdings, Sean Lefkovits, David Lloyd, And Lance Lefkovits Acquire Mixed-Use Property In Brooklyn For $3.3M

420 7th Avenue, Brooklyn, NY, USA

See Similar Deals
Mixed-use4,487 SF
Sold 09/03/2021
Kyle Talbott
Sean Lefkovits
David Lloyd
+ 1
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$735
Total Square Footage:4,487 SF
Transaction Type:Sale

Located at 420 7th Avenue in Brooklyn, this property is a mixed-use asset with a total square footage of 4,487. It is zoned as R6A and C2-4, with a tax class of 2A. The sale took place on September 3, 2021.

Summary of transation details

  • Property Type: Mixed-use
  • Transaction Amount: $3,300,000
  • Address: 420 7th Avenue, Brooklyn
  • Market: Brooklyn
  • Square Footage: 4,487

The buyer, Davean Holdings, represented by Sean Lefkovits, David Lloyd, and Lance Lefkovits, acquired the property from the seller, 420 Park Slope Realty. The transaction was facilitated by Kyle Talbott from Corcoran.

According to @DaveanHoldings, the property falls under Tax Class 2A and is 100% free market. The residential portion of the property was delivered vacant. This sale marks the first of a total of 13 closings expected to take place over the next 45 days. For more information, interested parties can contact Davean Holdings at [email protected].

Players

Kyle Talbott
The Corcoran Group
Kyle Talbott
3 deals$18M volume
BROKER
Sean Lefkovits
Davean Holdings
Sean Lefkovits
34 deals$295.5M volume
BUYER
David Lloyd
Davean Holdings
David Lloyd
31 deals$266.4M volume
BUYER
Lance Lefkovits
Davean Holdings
Lance Lefkovits
19 deals$176.4M volume
BUYER

Details

SOLD
IMAGE: David Lloyd, Sean Lefkovits, Lance Lefkovits & Kyle Talbott DATE: 09/03/2021 ADDRESS: 420 7th Avenue MARKET: Brooklyn ASSET TYPE: Mixed-use ~ ZONING: R6A, C2-4 ~ TAX CLASS: 2A BUYER: Davean Holdings - Sean Lefkovits (@4Lefko), David Lloyd (@DavidTLloyd) & Lance Lefkovits (@Lancealot815) SELLER: 420 Park Slope Realty BROKER: Kyle Talbott - Corcoran SALE PRICE: $3,300,000 SF: 4,487 ~ PPSF: $735 NOTE FROM @DaveanHoldings: Tax Class 2A. 100% Free Market & the residential portion was delivered vacant. 1st of 13 closings over the next 45 days. Please keep sending deals to [email protected]

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$11,724.21
Cash-on-Cash Return-1.27%
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