Naomi Lebovits & George Lebovits Secure $7.5M Loan For Retail Building In Flatlands, Brooklyn
2577 Nostrand Ave. Brooklyn, NY 11210, USA
$7,500,000
$468/SF
Building Size
16,000 SF
Asset Type
Retail
Closing
May 1, 2023
About this deal
AI
A retail building located at 2577-2601 Nostrand Avenue in Flatlands, Brooklyn has secured an initial loan worth $7.5 million from Dime Community Bank. The property, spanning 16,000 square feet, belongs to Naomi Lebovits and George Lebovits, who own it through their entity Ahava Nostrand, LLC.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7,500,000
- Market: Flatlands, Brooklyn
- Address: 2577-2601 Nostrand Avenue
- BSF: 17,324
- SF: 16,000
Naomi Lebovits and George Lebovits, through their entity Ahava Nostrand, LLC, have secured an initial loan worth $7.5 million from Dime Community Bank for the retail building located at 2577-2601 Nostrand Avenue in Flatlands, Brooklyn. The deal closed on May 1, 2023.
Players
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Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93