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190 South 1st Street, South...

The Harmony Group Acquires Community Facility Condo In Williamsburg, Brooklyn For $6M
SOLD

The Harmony Group Acquires Community Facility Condo In Williamsburg, Brooklyn For $6M

190 South 1st Street, South Williamsburg, Brooklyn, NY, USA

$6,000,000

$692/SF

Building Size

8,670 SF

Asset Type

Closing

Nov 2, 2021

AI

Located at 190 South 1st Street (717 Driggs Avenue) in Williamsburg, Brooklyn, this community facility condo has been sold in a recent transaction. The property spans across 8,670 square feet and was sold for a price of $6,000,000, resulting in a price per square foot of $692.

Summary of transaction details

  • Property Type: Community Facility Condo
  • Transaction Amount: $6,000,000
  • Address: 190 South 1st Street (717 Driggs Avenue), Williamsburg, Brooklyn
  • Market: Williamsburg, Brooklyn

The buyer of this property is The Harmony Group, represented by Ezriel Schwartz. On the other hand, the seller is Dvir Cohen-Hoshen and Omri Sachs, from Adam America Real Estate. Ariel Property Advisors, with brokers Sean R. Kelly, Shimon Shkury, John Higgins, and Ben Vago, facilitated the deal.

Players

John Higgins

Ariel Property Advisors

Broker

$17.6M

vol

4 deals

Broker

Dvir Cohen-Hoshen

Adam America Real Estate

Seller

$27.8M

vol

2 deals

Seller

Brooklyn CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.64%

Cash-on-Cash

-0.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93