Neue Urban Acquires Mixed-use Property In Greenpoint, Brooklyn For $3.3M
SOLD
$3,325,000
New York
See Similar DealsMixed-use4,650 SF
Sold 07/01/2022
SOLD
Neue Urban Acquires Mixed-use Property In Greenpoint, Brooklyn For $3.3M
248 Driggs Avenue, Brooklyn, New York 11222, United States
See Similar DealsMixed-use4,650 SF
Sold 07/01/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$715
Total Square Footage:4,650 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$177,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,813.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,762.20
Annual Debt Service$189,146.36
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