Davean Holdings has acquired 212 Lafayette Street from Alan Luke for $13.4 million. The Soho mixed-use building spans 10,600 square feet, and contains 16 apartments (three are stabilized).
Be Smart: Sources close to the deal confirmed that the property traded at a 5.1% cap rate. Cafe Select occupies the building’s retail unit.
Acquisition financing: The buyer secured $8.8 million in financing from First Republic Bank to close the deal, according to public records.
Location: The property is located between Spring and Broome Street, just one block away from the Spring Street Subway Station with access to the 4 and 6 trains.