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
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