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420 7th Avenue, Brooklyn, N...

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

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

420 7th Avenue, Brooklyn, NY, USA

$3,300,000

$735/SF

Building Size

4,487 SF

Asset Type

Mixed-use

Closing

Sep 3, 2021

AI

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

Broker

$18M

vol

3 deals

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

4.81%

Cash-on-Cash

-1.37%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93