Updated Jul 31, 2026
Steven Novick Purchases Special Purpose Property At 2050 East 3rd Street For $3.6 Million
2050 East 3rd Street
Building Size
—
Asset Type
Special Purpose
Closing
Jul 29, 2025
About this deal
AI
A special purpose property located at 2050 East 3rd Street in Gravesend, Brooklyn, has been sold for $3.6 million. The sale was finalized on July 29, 2025.
Summary of transaction details:
- Property Type: Special Purpose
- Transaction Amount: $3,600,000
- Buyer: Steven Novick
- Seller: Reuben J Chehebar
- Market: Gravesend, Brooklyn
- Sale Date: July 29, 2025
This transaction involved Steven Novick as the buyer, purchasing the property from seller Reuben J Chehebar. The deal emphasized the special purpose nature of the asset in the Gravesend area.
Players
Brooklyn Special Purpose Market Snapshot
Boundary boundary · Special Purpose · All transaction types transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93