Davean Holdings Acquires Mixed-Use Property In Park Slope For $4.5M

Located at 428 7th Avenue in Park Slope, Brooklyn, this mixed-use property was recently sold in a closed transaction. The property is classified as tax class 2B and offers a range of potential uses. The sale took place on November 30, 2021, and involved a total sale price of $4,525,000. The property spans 6,250 square feet, resulting in a price per square foot of $724.

Summary of transation details

• Property Type: Mixed-use
• Transaction Amount: $4,525,000
• Address: 428 7th Avenue, Park Slope, Brooklyn
• Market: Park Slope, Brooklyn
• Tax Class: 2B

The buyer in this transaction was @DaveanHoldings, represented by Sean Lefkovits and David Lloyd. The seller was Nick Valentino. The deal was facilitated by Lev Mavashev and Ben Normatov from Alpha Realty. It's worth noting that Davean Holdings specializes in off-market purchases from long-term owners, and this acquisition was no exception. The property is 100% free market, and it offers a promising 6% going-in cap rate with potential upside. Additionally, the property has a long-term retail lease in place with a private school.

For inquiries or opportunities requiring year-end closings, Davean Holdings can be contacted at [email protected].