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53 Stone Street, Staten Isl...

Davean Holdings Acquires Mixed-Use Property In FiDi For $10.1M
SOLDMixed-use

Davean Holdings Acquires Mixed-Use Property In FiDi For $10.1M

53 Stone Street, Staten Island, NY 10304

$10,100,000

$687/SF

Building Size

14,698 SF

Asset Type

Mixed-use

Closing

Sep 14, 2021

AI

Two mixed-use buildings located at 53 & 55 Stone Street in the FiDi neighborhood have been sold for a total of $10,100,000. The properties, with a total square footage of 14,698, consist of 7 loft-style residential units and two leased bar/restaurant commercial spaces. The sale price equated to $687 per square foot. The transaction took place on September 14, 2021, with the buyer being Davean Holdings, represented by Sean Lefkovits and David Lloyd. The seller was the Goldman Family. The deal was facilitated by brokers Louis Puopolo and Hillel Horovitz from Douglas Elliman.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $10,100,000
  • Market: FiDi
  • Address: 53 & 55 Stone Street
  • Tax Class: 2A

Davean Holdings, led by Sean Lefkovits and David Lloyd, acquired these two buildings as part of their investment strategy. The purchase adds to their portfolio of 100% Free Market properties. With the inclusion of these buildings, Davean plans to enhance the value of the residential units. For any further transaction inquiries, please contact Davean Holdings at [email protected].

Players

Louis Puopolo

Douglas Elliman

Broker

$29.5M

vol

8 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

1.57%

Cash-on-Cash

-0.45%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93