Dress Code NY Acquires Mixed-Use Property In Williamsburg For $5.35M
SOLD
$5,350,000
New York
See Similar DealsMultiFamily3,693 SF
Sold 03/11/2022
SOLD
Dress Code NY Acquires Mixed-Use Property In Williamsburg For $5.35M
663 Driggs Avenue, Brooklyn, New York 11211, United States
See Similar DealsMultiFamily3,693 SF
Sold 03/11/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,448
Total Square Footage:3,693 SF
Transaction Type:Sale
663 Driggs Ave. in Williamsburg has been sold in a mixed-use transaction for a total price of $5,350,000. The property spans across 3,750 square feet, resulting in a price per square foot of $1,426.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $5,350,000
- Address: 663 Driggs Ave.
- Market: Williamsburg
- Buyer: Dress Code NY
- Seller: Linnae Hamilton
- Broker: Michal Kuras - William Green Real Estate
The buyer, Dress Code NY, acquired the property from the seller, Linnae Hamilton. The deal was facilitated by broker Michal Kuras from William Green Real Estate.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$285,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,007.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,361.73
Annual Debt Service$304,340.75
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