Conway Capital pays $4.55M for mixed-use property in Boerum Hill

Ab Cohen’s Conway Capital through the entity 181 Court Street LLC paid Elizabeth Matthews’s 181 Court Street Realty, LLC $4.55 million for 181 Court Street in Boerum Hill. The deal closed on July 21, 2020, and was recorded on July 27, 2020. The transaction consists of 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 6 residential units. The property is 6,780 square feet. The parcel(s) have total development potential of 6,780 square feet.
The average sale price per square foot is $671.

The contract date was September 23, 2019. The buying entity was in care of Davean Holdings. The purchase was financed by a $3.8 million loan from Urban Standard Capital. Urban Standard Capital borrowed from Piermont Bank, and gave to the bank a collateral assignment of mortgage. Mercury Capital’s Eric Gleitman represented Conway in the financing, according to a press release.

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