Updated Dec 22, 2023
Christopher Knight Acquires Large Suburban Residence In Ditmas Park For $3M
506 Westminster Road, Brooklyn, New York 11218, United States
$3,000,000
$1,229/SF
Building Size
2,440 SF
Asset Type
Single Family Residence
Closing
Jul 7, 2022
About this deal
AI
A large suburban residence located at 506 Westminster Road in Ditmas Park, Brooklyn has been sold in a recent transaction. The property, which is zoned as R3X, features a total building size of 2,000 square feet and a land area of 4,000 square feet. The residence offers a spacious interior with 2,440 square feet of living space. The sale price for this property was $3,000,000, resulting in a price per square foot of $1,229.
Summary of transaction details
- Property Type: Large Suburban Residence
- Transaction Amount: $3,000,000
- Address: 506 Westminster Road, Ditmas Park, Brooklyn
- Zoning: R3X
- Building Size: 2,000 square feet
- Price per Square Foot: $1,229
- Land Area: 4,000 square feet
The buyer of this property is Chirstopher Knight, while the seller is Benjamin Sturtevant Smith. The previous sale of the property took place on June 17, 2019, with a sale price of $1,800,000. The property underwent alteration permits on January 29, 2020. The lot dimensions are 40 feet by 100 feet, and the property's floor area ratio (FAR) is 0.61. The tax class of the property is 1.
Players
New York Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Deal FAQ
About $1.2K per square foot on a published $3M for 2,440 square feet (2022).
Browse New York single family residence sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93