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1532 St Johns Pl, Brooklyn,...

Davean Holdings Acquires Multifamily Property In Brooklyn's Crown Heights For $1.22M
FINANCEDMultiFamily

Davean Holdings Acquires Multifamily Property In Brooklyn's Crown Heights For $1.22M

1532 St Johns Pl, Brooklyn, NY 11213, USA

$1,220,000

$376/SF

Building Size

3,240 SF

Asset Type

MultiFamily

Closing

Nov 29, 2020

AI

The multifamily property located at 1532 St Johns Place in Brooklyn, Crown Heights has recently undergone a closed transaction. The property, measuring 3,240 square feet, was purchased in 2016 for $830,000. The current transaction involved a loan amount of $1,220,000 from Colorado Federal Savings Bank. The landlord of the property is Davean Holdings, represented by Sean Lefkovits and David Lloyd. The deal was facilitated by Eric Gleitman from Mercury Capital Markets.

Summary of transaction details:

In this transaction, Sean Lefkovits and David Lloyd, as representatives of Davean Holdings, successfully secured a loan of $1,220,000 from Colorado Federal Savings Bank for the multifamily property located at 1532 St Johns Place. Eric Gleitman from Mercury Capital Markets played a crucial role in facilitating the deal.

Players

Eric Gleitman

Mercury Capital Markets

Broker

$126.1M

vol

24 deals

Broker
Colorado Federal Savings Bank
Colorado Federal Savings BankLender
Sean Lefkovits

Sean Lefkovits

Davean Holdings

Landlord

$295.5M

vol

34 deals

Landlord

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

13.00%

Cash-on-Cash

-3.72%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93