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426 7th Avenue, Brooklyn, N...

Sean Lefkovits And David Lloyd Of Davean Holdings Acquire Mixed-Use Property In Park Slope For $3.1M
SOLDMixed-use

Sean Lefkovits And David Lloyd Of Davean Holdings Acquire Mixed-Use Property In Park Slope For $3.1M

426 7th Avenue, Brooklyn, NY 11215

$3,100,000

$704/SF

Building Size

4,400 SF

Asset Type

Mixed-use

Closing

Dec 29, 2021

AI

Located in Park Slope, the mixed-use property at 426 7th Avenue was recently sold in an off-market transaction. The property features a total square footage of 4,400, with a price per square foot of $704. The sale price for this transaction was $3,100,000. The property is zoned as R6A and C2-4, allowing for various use possibilities. Its 1,600 sq ft lot has dimensions of 20 x 80 ft. The property falls under tax class 2A, and it has a FAR of 2.75.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $3,100,000
  • Market: Park Slope
  • Zoning: R6A, C2-4

The buyers of the property, Sean Lefkovits and David Lloyd of @DaveanHoldings, acquired it from the seller, Louis Collina. The deal was facilitated by Lev Mavashev and Ben Normatov from Alpha Realty. Davean Holdings already owns several buildings in the vicinity and actively seeks more opportunities in prime Brooklyn and Manhattan.

It's worth mentioning that Sean Lefkovits, one of the buyers, made a substantial profit through the sale of a rare zombie wolf NFT in Wolf Game. He bought the NFT for 4 ETH and sold it for 58 ETH just 30 days later, resulting in a profit of $220,000. The Wolf Game NFT is a leading Play 2 Earn NFT in the NFT Market.

Players

Lev Mavashev

Alpha Realty

Broker

$742M

vol

106 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

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.12%

Cash-on-Cash

-1.46%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93