Carter Martin Acquires Ridgewood Multifamily Property For $4.75M

A multifamily property located at 2035 Gates Avenue in Ridgewood, Queens has been sold for a price of $4,750,000. The property has a building square footage (BSF) of 5,484, with a price per BSF (PPBSF) of $866. The total square footage (SF) of the property is 5,594, and the price per square foot (PPSF) is $849. The lot size is 2,742 square feet, and the property's lot dimensions are 27.42 ft x 100 ft. The last recorded sale of the property took place on March 14, 2018, for a price of $2,275,000. An alteration permit was issued on August 9, 2018 for the property.

Summary of Transaction Details

• Property Type: Multifamily
• Transaction Amount: $4,750,000
• Market: Ridgewood, Queens
• Zoning: R6B

The buyer of the property is Carter Martin, while the seller is Paul Daniel Conway. The property has a floor area ratio (FAR) of 2.04 and falls under tax class 2A.