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483 Driggs Avenue

Joel Fried's 483 Driggs LLC Acquires Mixed-Use Building In Williamsburg For $3.7M
SOLDMixed-use

Joel Fried's 483 Driggs LLC Acquires Mixed-Use Building In Williamsburg For $3.7M

483 Driggs Avenue

$3,700,000

$936/SF

Building Size

3,949 SF

Asset Type

Mixed-use

Closing

Dec 28, 2023

AI

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.

Players

John Ziegler

Seller

$13M

vol

3 deals

Seller

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

4.29%

Cash-on-Cash

-1.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93