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Davean Holdings Refinances Cobble Hill Properties For $10.3M With LMF Commercial

131 Smith Street & 181 Court Street
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This Mixed-use property located in NY received a loan of $10,300,000 about 3 years ago. The brokers of the deal were Jonathan Singer and Robert Tobias

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $10,300,000
  • Units: 11
  • Address: 131 Smith St. & 181 Court St.
  • Market: Cobble Hill, Brooklyn
  • Lender: LMF Commercial (A Lennar Co.)
  • Landlord: Sean Lefkovits, David Lloyd & Lance Lefkovits
  • Brokers: Jonathan Singer - Strategic Funding & Robert Tobias - RJT Capital

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Deals
  • Location
    131 Smith Street, Brooklyn, NY, USA131 Smith Street, Brooklyn, NY, USA
  • Loan Value
    $10,300,000$10,300,000
  • Asset Type
    Mixed-useMixed-use
  • Parties
    2 Brokers, 1 Agency, 1 Lender2 Brokers, 1 Agency, 1 Lender

Agents

Jonathan Singer

Jonathan Singer

Deals13
Financed$200.6M

Agency

RJT Capital Partners

RJT Capital Partners

Agency
Deals20
Volume$114.6M

LMF Commercial

LMF Commercial

Lender
Deals47
Volume$ 17.2B

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Deal Summary

LOAN IMAGE: David Lloyd, Sean Lefkovits & Lance Lefkovits DATE: 02/12/2021 ADDRESS: 131 Smith St. & 181 Court St. MARKET: Cobble Hill, Brooklyn ASSET TYPE: Mixed-use ~ UNITS: 11 LENDER: LMF Commercial (A Lennar Co.) LANDLORD: Sean Lefkovits (@4Lefko), David Lloyd (@DavidTLloyd) & Lance Lefkovits (@Lancealot815) - @DaveanHoldings BROKERS: Jonathan Singer - Strategic Funding;l & Robert Tobias - RJT Capital LOAN AMOUNT: $10,300,000 LOAN TERMS: 10-Years Fixed NOTE FROM LANDLORD: Both properties were purchased in 2020 in midst of the pandemic for $10,100,000 combined. Gut renovated and repositioned 11 Residential units with condo level finishes. Successfully refinanced for $10,300,000 within the year.

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131 Smith Street & 181 Court Street

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