Updated Dec 4, 2024
David B. Smith Acquires Single Family Home In Charlotte For $7.6M
$7,600,000
$760/SF
Building Size
10,000 SF
Asset Type
Single Family
Closing
Nov 20, 2023
About this deal
AI
Sonic Automotive Inc. CEO David B. Smith, through Foxcroft Equity LLC, has completed the purchase of a single-family home on the 7300 block of Baltusrol Lane in Charlotte. The property was sold for $7.6 million, potentially making it the highest-priced home sale in Mecklenburg County for 2023. The home spans 10,000 square feet and has a price per square foot of $760.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $7,600,000
- Square Footage: 10,000
- Price per Square Foot: $760
- Buyer: David B. Smith
- Market: Charlotte, NC
David B. Smith, the CEO of Sonic Automotive Inc., completed the purchase of this property through his company Foxcroft Equity LLC. The transaction marks a significant acquisition in the real estate market, showcasing Smith's investment interests in high-value homes in the Charlotte, NC area.
Players
Market Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Deal FAQ
About $760 per square foot on a published $7.6M for 10,000 square feet (2023).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.09%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93