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Davean Holdings Acquires Multifamily Property In Brooklyn For $2.85M From Seller Anthony Kimkowski

Property Image
SOLD
$2,850,000
Sean Lefkovits
David Lloyd
+ 1

New York

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MultiFamily6,030 SF
Sold 09/10/2021
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Property Image
SOLD

Davean Holdings Acquires Multifamily Property In Brooklyn For $2.85M From Seller Anthony Kimkowski

143 Noble Street, Brooklyn, NY 11222, USA

See Similar Deals
MultiFamily6,030 SF
Sold 09/10/2021
Sean Lefkovits
David Lloyd
+ 1
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$472
Total Square Footage:6,030 SF
Transaction Type:Sale

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

2 deals$5.1M volume
BROKER


David Lloyd
Davean Holdings
31 deals$266.4M volume
BUYER

Lance Lefkovits
Davean Holdings
19 deals$176.4M volume
BUYER

Details

SOLD
IMAGE: David Lloyd, Sean Lefkovits, Lance Lefkovits & Taylor Cohen DATE: 09/10/2021 ADDRESS: 143 Noble Street MARKET: Brooklyn ASSET TYPE: Multifamily ~ ZONING: R6B ~ TAX CLASS: 2A BUYER: Davean Holdings - Sean Lefkovits (@4Lefko), David Lloyd (@DavidTLloyd) & Lance Lefkovits (@Lancealot815) SELLER: Anthony Kimkowski BROKER: Taylor Cohen - Spire Group (@SpireGroupNY) ASKING PRICE: $4,500,000 SALE PRICE: $2,850,000 SF: 6,030 ~ PPSF: $490 UNITS: 4 ~ PPU: $712,500 NOTE FROM @DaveanHoldings: Purchased all-cash from long term ownership. The property was delivered vacant at closing & will undergo a full gut renovation. It was purchased for $490/SF in prime Greenpoint & an opportunity to immediately build to north of a 6% cap rate. Please keep sending deals to: 📧 [email protected]

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$151,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$10,125.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,510.45
Annual Debt Service$162,125.45