Davean Holdings Acquires Multifamily Property In Brooklyn For $2.85M From Seller Anthony Kimkowski
143 Noble Street, Brooklyn, NY 11222, USA
$2,850,000
$472/SF
Building Size
6,030 SF
Asset Type
MultiFamily
Closing
Sep 10, 2021
AI
The multifamily property located at 143 Noble Street in Brooklyn has been sold in a recent transaction. The property, with a total square footage of 6,030, is zoned as R6B and falls under tax class 2A. The sale price for this property was $2,850,000, with a price per square foot of $490. It consists of 4 units, making the price per unit $712,500.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,850,000
- Address: 143 Noble Street
- Market: Brooklyn
- Zoning: R6B
- Tax Class: 2A
The buyer of the property is Davean Holdings, represented by Sean Lefkovits, David Lloyd, and Lance Lefkovits. The seller in this transaction is Anthony Kimkowski. Taylor Cohen from Spire Group acted as the broker in this deal.
It is worth noting that Davean Holdings purchased the property all-cash from long-term ownership. The property was delivered vacant at closing, and the buyer has plans for a full gut renovation. This transaction presents an opportunity to build a property with a cap rate exceeding 6% in the prime Greenpoint area of Brooklyn. For more information on deals, contact Davean Holdings at [email protected].
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.57%
Cash-on-Cash
-1.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93