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Joel Fried's 483 Driggs LLC Acquires Mixed-Use Building In Williamsburg For $3.7M
SOLD
$3,700,000
New York
See Similar DealsMixed-use3,949 SF
Sold 12/28/2023
SOLD
Joel Fried's 483 Driggs LLC Acquires Mixed-Use Building In Williamsburg For $3.7M
483 Driggs Avenue
See Similar DealsMixed-use3,949 SF
Sold 12/28/2023
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$936
Total Square Footage:3,949 SF
Transaction Type:Sale
Joel Fried, operating through the entity 483 Driggs LLC, completed the purchase of the mixed-use building at 483 Driggs Avenue in Williamsburg, Brooklyn. The property was sold by John Ziegler's JWZ Holdings, LLC for a total of $3.7 million. It is a mixed-use building with a total square footage of 3,949. The price per square foot for the transaction was $937.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $3,700,000
- Address: 483 Driggs Avenue
- Market: Williamsburg, Brooklyn
- Buyer: Joel Fried
- Seller: John Ziegler
Joel Fried, represented by 's REP, successfully acquired the property from John Ziegler. This transaction was completed on 12/28/2023.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$197,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,145.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,539.89
Annual Debt Service$210,478.65
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