Davean Holdings borrows $16.5M from Avant Capital for multifamily property in West Village

Davean Holdings through the entity 103-105 MacDougal Street LLC as borrower signed a loan agreement with lender Avant Capital through the entity Downspout Capital VII LLC valued at $16.5 million for 2 parcels, including the tax class multifamily, more than six families with stores (C7) and containing 72 residential units at 105 MacDougal Street in West Village. The deal closed on June 17, 2020 and was recorded on June 19, 2020.
The property contains a total of 19,824 square feet of built space.
The average loan per unit is $229,167.
Downspout Capital VII is an affiliate of Adam Luysterborghs’s Avant Capital.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $263,790.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link