Neue Urban Acquires Mixed-use Property In Greenpoint, Brooklyn For $3.3M
248 Driggs Avenue, Brooklyn, New York 11222, United States
$3,325,000
$715/SF
Building Size
4,650 SF
Asset Type
Mixed-use
Closing
Jun 30, 2022
AI
The mixed-use property located at 248 Driggs Avenue in Greenpoint, Brooklyn has been sold in a recent transaction. The property, spanning 4,650 square feet, was sold for a total price of $3,325,000, equating to a price per square foot of $715.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $3,325,000
- Address: 248 Driggs Avenue, Greenpoint, Brooklyn
- Market: Greenpoint, Brooklyn
Neue Urban, represented by Zach Ehrlich, acted as the buyer in this transaction, while Keith Balis was the seller. Sean R. Kelly and Benjamin Vago from Ariel Property Advisors served as the brokers facilitating the sale.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.77%
Cash-on-Cash
-1.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93