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Ennismore LLC Acquires Multifamily Property On Driggs Avenue, Brooklyn For $2.2M

Property Image
SOLD
$2,200,000
Sarah Sawyer
AB

New York

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MultiFamily3,400 SF
Sold 11/05/2019
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Property Image
SOLD

Ennismore LLC Acquires Multifamily Property On Driggs Avenue, Brooklyn For $2.2M

561 Driggs Ave, Brooklyn, NY 11211, USA

See Similar Deals
MultiFamily3,400 SF
Sold 11/05/2019
Sarah Sawyer
AB
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$647
Total Square Footage:3,400 SF
Transaction Type:Sale

The multifamily property located at 561 Driggs Avenue in North Williamsburg, Brooklyn has been sold in a closed transaction. The property spans 3,400 square feet and features 3 units. The market value of the property is $647 per square foot.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,200,000
  • Address: 561 Driggs Avenue, North Williamsburg, Brooklyn
  • Market: North Williamsburg, Brooklyn
  • Seller: Theresa Delpozzo
  • Buyer: Alex Budney, Ennismore LLC (@budnizzle)
  • Broker: Sarah M. Sawyer - Bedford 6
  • Asking Price: $2,499,000
  • Price Per Square Foot: $647
  • Units: 3
  • Price Per Unit: $733,333

Alex Budney, represented by Ennismore LLC (@budnizzle), purchased the property from Theresa Delpozzo in this transaction. The deal was facilitated by Sarah M. Sawyer from Bedford 6.

Players

Sarah Sawyer
Compass
Sarah Sawyer
4 deals$33.9M volume
BROKER
AB
Alex Budney
3 deals$15.1M volume
BUYER

Details

SOLD
IMAGE: Alex Budney DATE: 11/05/2019 ADDRESS: 561 Driggs Avenue MARKET: North Williamsburg, Brooklyn ASSET TYPE: Multifamily SELLER: Theresa Delpozzo BUYER: Alex Budney, Ennismore LLC @budnizzle BROKER: @SarahMSawyer – Bedford 6 ASKING PRICE: $2,499,000 SALE PRICE: $2,200,000 SF: 3,400 PPSF: $647 UNITS: 3 PPU: $733,333

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$117,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,816.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,429.12
Annual Debt Service$125,149.47