Davean Holdings, Conway Capital pay $6M for mixed-use property in Boerum Hill

David Lloyd and Sean Lefkovits of Davean Holdings and Abe Cohen of Conway Capital through the entity 131 Smith Street LLC paid Edward Gerrity and Lorraine Gerrity’s Loger Management LLC $5.6 million for 131 Smith Street in Boerum Hill. The deal closed on February 20, 2020, and was recorded on March 2, 2020. The transaction consists of 1 parcel, including the tax class primarily five to six family with store or office (S5) and containing 5 residential units. The property is 4,400 square feet. The parcel(s) have total development potential of 4,400 square feet.
The average sale price per square foot is $1,261.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $78,320.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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