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@DaveanHoldings Acquires Mixed-Use Property In Cobble Hill, Brooklyn For $5.55M

131 Smith Street
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This Mixed-use property located in NY was sold for $5,550,000 about 4 years ago. The broker of the deal was Richard (Rich) Velotta

The mixed-use property located at 131 Smith Street in Cobble Hill, Brooklyn has been sold. The property spans 5,950 square feet and was purchased for a total of $5,550,000. The transaction took place off-market and the building is currently 100% occupied. The sale price reflects a going-in Cap Rate of 5.3%.

Summary of Transaction Details

  • Property Type: Mixed-use
  • Sale Price: $5,550,000
  • Square Footage: 5,950
  • Address: 131 Smith Street
  • Market: Cobble Hill, Brooklyn

The seller of the property was Lorraine Gerrity, while the buyers were Sean Lefkovits, David Lloyd, and Lance Lefkovits of Davean Holdings. Representing the buyers in the deal was Rich Velotta from Team Velotta.

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Deals
  • Location
    131 Smith St, Brooklyn, NY 11201, USA131 Smith St, Brooklyn, NY 11201, USA
  • Sale Price
    $5,550,000$5,550,000
    $93 PPSF$93 PPSF
  • Area
    59,500 SF59,500 SF
  • Asset Type
    Mixed-useMixed-use
  • Parties
    1 Broker, 1 Agency1 Broker, 1 Agency

Agent

Richard (Rich) Velotta

Richard (Rich) Velotta

Deals17
Sold$192.5M

Agency

Raven Property Advisors

Raven Property Advisors

Agency
Deals48
Volume$455.5M

Deal Summary

IMAGE: Sean Lefkovits, David Lloyd, Lance Lefkovits & Rich Velotta DATE: 02/20/2020 ADDRESS: 131 Smith Street MARKET: Cobble Hill, Brooklyn ASSET TYPE: Mixed-use SALE PRICE: $5,550,000 SF: 5,950 SELLER: Lorraine Gerrity BUYER: @DaveanHoldings Sean Lefkovits, David Lloyd & Lance Lefkovits BROKER: Rich Velotta @TeamVelotta NOTE: Purchased off-market for 5.3% going-in Cap Rate. Building is 100% […]

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