Parveen Sultan Sells Brooklyn Multifamily At 802 Driggs Avenue For $2.7 Million
802 Driggs Avenue
$2,700,000
$847/SF
Building Size
3,185 SF
Asset Type
MultiFamily
Closing
Feb 18, 2025
AI
The property involved in this transaction is a multifamily asset located at 802 Driggs Avenue in Brooklyn. The property encompasses four units and has a total square footage of 3,185. The sale price for this property was $2,700,000, which translates to a price per unit of $675,000 and a price per square foot of $847.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,700,000
- Units: 4
- Square Footage: 3,185
- Price Per Unit: $675,000
- Price Per Square Foot: $847
- Seller: Parveen Sultan
- Broker: Daniel Barcelowsky - Evergreen Realty & Investments
In this transaction, Parveen Sultan acted as the seller of the multifamily property, while Daniel Barcelowsky from Evergreen Realty & Investments represented the seller in the deal.
Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.88%
Cash-on-Cash
-1.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93