Davean Holdings Acquires Multifamily Property In Brooklyn Heights For $5.95M
SOLD
$5,950,000
New York
See Similar DealsMultiFamily18,000 SF
Sold 11/02/2020
SOLD
Davean Holdings Acquires Multifamily Property In Brooklyn Heights For $5.95M
12 Clark Street, Brooklyn, NY 11201
See Similar DealsMultiFamily18,000 SF
Sold 11/02/2020
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$330
Total Square Footage:18,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$317,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,139.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,206.04
Annual Debt Service$338,472.43
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