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12 Clark Street, Brooklyn, ...

Davean Holdings Acquires Multifamily Property In Brooklyn Heights For $5.95M
SOLDMultiFamily

Davean Holdings Acquires Multifamily Property In Brooklyn Heights For $5.95M

12 Clark Street, Brooklyn, NY 11201

$5,950,000

$330/SF

Building Size

18,000 SF

Asset Type

MultiFamily

Closing

Nov 1, 2020

AI

An 18,000 square foot multifamily property located at 12 Clark Street in Brooklyn Heights was recently sold for $5,950,000. The property was acquired by David Lloyd, Sean Lefkovits, Lance Lefkovits, and Michael Niamonitakis of Davean Holdings from seller Paul Simon. The transaction was facilitated by Marcel Fridman of Barcel Group.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $5,950,000
  • Address: 12 Clark Street, Brooklyn Heights
  • Market: Brooklyn Heights
  • Buyer: David Lloyd, Sean Lefkovits, Lance Lefkovits, Michael Niamonitakis of Davean Holdings
  • Seller: Paul Simon
  • Broker: Marcel Fridman - Barcel Group

The acquisition of this multifamily property in Brooklyn Heights was completed by David Lloyd, Sean Lefkovits, Lance Lefkovits, and Michael Niamonitakis. The transaction was facilitated through the expertise of Marcel Fridman from Barcel Group, who represented the buyer in the deal.

Players

Marcel Fridman

Barcel Group

Broker

$456.5M

vol

142 deals

Broker

Michael Niamonitakis

Davean Holdings

Buyer

$110.8M

vol

10 deals

Buyer

Paul Simon

Seller

$22.7M

vol

3 deals

Seller

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

2.67%

Cash-on-Cash

-0.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93