NOT LISTED FOR SALE

Estimated Value: $2,163,000 - $3,367,000

5 Beds
4.5 Baths
4,000 Sq Ft
$718/Sq Ft Est. Value

Last Sold July 08, 2022

Last sale price $3,420,000 $855 Per Sq Ft

Est. 16% decrease in value since last sale

Current estimated payment $16,089/month

27 Days on Market

Highlights

  • Garage
  • 4-minute walk to Newkirk Avenue (B,Q Line)
  • 1-Story Property
  • Ditmas Junior High school Rated A-

About This Home

As of July 2022

Set in the landmarked district of Ditmas Park, 554 East 18th Street has been completely reimagined and renovated into one of the most unique and compelling properties in the neighborhood. Spanning over 4000 square feet on four floors, this home was creatively restored by husband/wife design enthusiasts, inspired by a previous owner's stories, family and history and given new life with this modern take.

Restored with the finest materials, the first floor combines elements of a Soho loft with exposed metal beams, exposed pipes and hardware, and a brick chimney (exposed on every floor with a different interesting effect) mixed with softer elements such as French white oak floors throughout, natural material light fixtures, and numerous windows enhancing the sense of light, air and space. The first floor's open concept makes for an excellent venue for gatherings large or small. The intimate living room has a gas fireplace for quiet conversation and a relaxed downtime. The modern kitchen has durable Titanio charcoal lacquer custom cabinets imported from Italy, porcelain countertops, and a concealed pantry and refrigerator. The Dutch four-burner gas cooktop overlooks the dining area, while the Wolf oven is concealed within the cabinetry. Two Fisher and Paykel dishwashers are also hidden next to the sink. The countertop-to-ceiling wall of windows gives the kitchen a soothing view of the backyard landscape.

Among the most distinguishing features of the home is the atrium extension with soaring windows rarely seen in Ditmas Park let alone the entire borough of Brooklyn. The finished basement which is the beneficiary of opulent light from the atrium bump-out offers a guest bedroom area, workout area, office, screening room, and a full bathroom. The second floor offers the rare-to-find, four-bedroom, two-bathroom layout complete with laundry. All four bedrooms are well proportioned, with several windows in each room.

The grand primary suite on the third floor is a retreat like no other. Exposed beams traverse the ceiling of this spa-like oasis, featuring a large sitting area with a desk and built-in shelving, which could double as another home gym and/or meditation area. A private powder room with a skylight is neatly tucked away under the beams. The double sink is close to the open shower and bathtub area with heated floors and another skylight. Two walk-in closets and additional shelving offer plenty of storage space.

This oversized lot has been relandscaped with whimsical plantings that sway in the wind and offer a relaxed, vacation feeling in your very own backyard. With two points of entry from the lower level or the kitchen, there is easy access to multiple levels of bountiful outdoor space. Next to the two-car garage is a raised vegetable bed for the budding homesteader. You can accommodate plenty of guests with the large driveway, or put in a pool and still park two cars.

Ditmas Park is one of the rare neighborhoods in New York City that offers detached homes with front porches, driveways and large backyards, all while being just around the corner to some of the best subway lines in the city. Lined with old-growth trees, the long streets here offer a refuge from busier areas of the city. Close to Prospect Park and the Prospect Park Expressway, you can be in the middle of nature or back in Manhattan in a matter of minutes. Several award-winning restaurants are found on nearby Newkirk Avenue and Cortelyou Road, along with organic food markets, wine stores and cozy cafes. This home offers a unique space with a vacation-like feel all without ever having to leave the city limits.

Last Agent to Sell the Property

Rebekah Carver

Douglas Elliman Real Estate License #10301214883 Listed on: 04/07/2022

Douglas Elliman Real Estate

Home Details

Home Type

  • Single Family

Lot Details

  • 6,098

Parking

  • Garage

Interior Spaces

  • 4,000 Sq Ft Home
  • 1-Story Property
  • Washer Dryer Allowed

Bedrooms and Bathrooms

  • 5 Bedrooms

Community Details

  • Ditmas Park Subdivision

Home Details

Home Type

Single Family

Lot Details

0

Listing Details

  • Property SubType: Single Family Residence
  • Property Type: Residential
  • Neighborhood: Ditmas Park
  • ResoPropertyType: Residential
  • Special Features: None
  • Property Sub Type: Detached
  • Stories: 1

Interior Features

  • Appliances: Washer Dryer Allowed
  • Living Area: 4000.0
  • Living Area Units: Square Feet

Beds/Baths

  • Full Bathrooms: 4
  • Half Bathrooms: 1
  • Bathrooms Integer: 5
  • Bedrooms: 5

Garage/Parking

  • Garage: Yes

Building Info

  • Units: 1
  • Total Stories: 1

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 7, 2022
Closed on
Jul 8, 2022
Sold by
George Ajit and Wolfe Sherry
Bought by
Caputo David and Ghawami Assal
Seller's Agent
Rebekah Carver
Douglas Elliman Real Estate
List Price
$3,400,000
Sold Price
$3,420,000
Premium/Discount to List
$20,000
0.59%
Current Estimated Value
$2,870,041

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$549,959
Avg. Annual Appreciation
-4.94%
Original Mortgage
$2,275,000
Outstanding Balance
$2,167,007
Interest Rate
5.23%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$703,034

Purchase Details

Listed on
Oct 13, 2020
Closed on
Jun 7, 2021
Sold by
Ginzburg-Olsha Meital
Bought by
George Ajit and Wolfe Sherry
Seller's Agent
Rebekah Carver
Douglas Elliman Real Estate
List Price
$3,400,000
Sold Price
$3,200,000
Premium/Discount to List
-$200,000
-5.88%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.35%
Original Mortgage
$1,525,000
Interest Rate
2.9%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Apr 30, 2019
Sold by
Williams Bessie
Bought by
Ginzburg Olsha Meital
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Caputo David $3,420,000 --
George Ajit $3,250,000 --
Ginzburg Olsha Meital $1,460,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Caputo David $2,275,000
Previous Owner George Ajit $1,525,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
07/08/2022 07/08/22 Sold $3,420,000 +0.6% $855 / Sq Ft
04/07/2022 04/07/22 For Sale $3,400,000 +6.3% $850 / Sq Ft
06/07/2021 06/07/21 Sold $3,200,000 -5.9% $1,044 / Sq Ft View Prior Sale
10/13/2020 10/13/20 For Sale $3,400,000 -- $1,109 / Sq Ft
Source: Real Estate Board of New York (REBNY)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $12,607 $170,580 $29,100 $141,480
2024 $12,607 $165,360 $29,100 $136,260
2023 $12,303 $172,200 $30,300 $141,900
2022 $11,616 $140,940 $30,300 $110,640
2021 $9,769 $132,360 $30,300 $102,060
2020 $7,327 $133,920 $30,300 $103,620
2019 $8,502 $126,000 $30,300 $95,700
2018 $7,896 $41,968 $7,775 $34,193
2017 $7,504 $39,978 $9,342 $30,636
2016 $3,245 $38,683 $12,202 $26,481
2015 $1,836 $36,494 $13,434 $23,060
2014 $1,836 $36,494 $15,149 $21,345
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Real Estate Board of New York (REBNY)

MLS Number: RLS10784051

Real Estate Board of New York (REBNY)

APN: 05203-0025