Marcus & Millichap Brokers Sell Mixed-Use Property In Williamsburg, Brooklyn For $5.6M
558 Driggs Avenue, Brooklyn, New York 11211, United States
$5,625,000
$1,125/SF
Building Size
5,000 SF
Asset Type
Mixed-use
Closing
Jun 9, 2022
About this deal
AI
A mixed-use property located at 558 Driggs Ave in Williamsburg, Brooklyn has been sold. The transaction was facilitated by brokers Shaun Riney, Michael Salvatico, and Sam Leppo from Marcus & Millichap. The sale price for the property was $5,625,000, with a total square footage of 5,000. This equates to a price per square foot of $1,125.
Summary of transaction details:
- Property Type: Mixed-use
- Sale Price: $5,625,000
- Square Footage: 5,000
- Price Per Square Foot: $1,125
- Address: 558 Driggs Ave
- Market: Williamsburg, Brooklyn
Shaun Riney, Michael Salvatico, and Sam Leppo from Marcus & Millichap were the brokers involved in the deal. They represented the parties during the transaction and played a crucial role in facilitating the sale of the property.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Deal FAQ
Visit Samuel (Sam) Leppo to view all their deals.
Browse New York mixed use sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.82%
Cash-on-Cash
-0.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93