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272 Driggs Avenue

Eden Ashourzadeh Acquires Mixed-Use Building At 272 Driggs Avenue In Greenpoint For $3M
SOLDMixed-use

Eden Ashourzadeh Acquires Mixed-Use Building At 272 Driggs Avenue In Greenpoint For $3M

272 Driggs Avenue

$3,000,000

$653/SF

Building Size

4,590 SF

Asset Type

Mixed-use

Closing

Apr 29, 2025

AI

A mixed-use building located at 272 Driggs Avenue in the Greenpoint market has been sold for $3,000,000. The asset consists of 5 units and offers a total square footage of 4,590, resulting in a price per unit of $600,000 and a price per square foot of $653. The building was delivered with 4 vacant apartments and an occupied retail tenant.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $3,000,000
  • Units: 5
  • Price Per Unit: $600,000
  • Square Footage: 4,590
  • Price Per Square Foot: $653
  • Buyer: Eden Ashourzadeh
  • Seller's Representative: Justin Conway & Ryan Conway - Conway Property Advisors
  • Attorney: Stephen Siminou - Siminou & Associates, P.C

Key individuals involved in the transaction include the buyer Eden Ashourzadeh, along with the seller's representatives, Justin Conway and Ryan Conway from Conway Property Advisors. The legal aspect of the transaction was handled by attorney Stephen Siminou from Siminou & Associates, P.C.

Players

Justin Conway

Conway Property Advisors

Broker

$102.7M

vol

23 deals

Broker

Eden Ashourzadeh

Buyer

$116.7M

vol

37 deals

Buyer

Brooklyn 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

5.29%

Cash-on-Cash

-1.51%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93