NOT LISTED FOR SALE

Estimated Value: $1,192,000 - $1,832,000

7 Beds
4 Baths
3,350 Sq Ft
$441/Sq Ft Est. Value

Last Sold August 20, 2018

Last sale price $1,575,000 $470 Per Sq Ft

Est. 11% increase in value since last sale

Current estimated payment $9,475/month

114 Days on Market

Highlights

  • Pre War Building
  • Intercom
  • 3-minute walk to Gates Avenue

About This Home

As of August 2018

Welcome to 962 Gates Avenue, the largest fully renovated 2-family 3-story townhouse on the market in the sought-after neighborhood of Bedford-Stuyvesant.

This oversized townhouse of over 3,350 square feet has un-rivaled dimensions of 19.5' x 57.5' on a 19.5' x 100' lot. In addition, it includes a fully finished basement of 550 square feet. The house consists of a massive light-filled 2,243 square foot upper duplex and a 1,123 square foot floor-through garden apartment with private access to the additional basement.

The upper duplex begins with an impressive open living/dining/kitchen lay out of 750 square feet with 2 gorgeous marble fireplace mantels. Off the back of the open concept chef kitchen is an art room leading to a private deck overlooking the back garden. The rest of the apartment boasts 4 oversized bedrooms, 3 full bathrooms, 11-foot high ceilings on the parlor floor and 10-foot high ceilings on the top floor. The garden floor apartment features 3 generous bedrooms, an open chef kitchen with stainless steel appliances, a very large living/dining room, private access to a 550 square feet south-facing garden and its own fully finished basement currently used as a music studio. Exposed brick walls throughout the house add charm and character to both apartments which are also equipped with central air, personal thermostats and their own washer/dryers.

The house was renovated in 2014/2015 and includes new mechanicals, high efficiency HVAC systems, new water boilers and new plumbing and electrical systems. Each apartment is separately metered for gas and electric.

962 Gates Avenue is ideally located one block away from the J/M/Z train (Gates Ave train station), and minutes from the express A/C train (Utica train station) allowing for easy access to the city. It is also a stone throw way from the neighborhood favorites such as Saraghina, Peach, L'Antagoniste, Casablanca, The Wilky, Bar Lunatico, Manny's and Chez Alex Bakery.

This is a rare turnkey opportunity for whether a family who would live in one of the apartments and collect high rental income from the other apartment or an investor who would collect over $86,000 per year in rental income. The house benefits from a R6A zoning with a an attractive FAR of 3.0 and has additional air rights of up to 2,600 square feet.

Last Agent to Sell the Property

Yury Holohan

Compass License #30HO0839284 Listed on: 04/27/2018

Compass

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1899

Lot Details

  • Lot Dimensions are 19.0 x 100.0

Home Design

  • Pre War Building

Interior Spaces

  • 3,350 Sq Ft Home
  • 3-Story Property
  • Intercom

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 4 Full Bathrooms

Community Details

  • Stuyvesant Heights Subdivision

Listing and Financial Details

  • Legal Lot and Block 30 / 1638

Property Details

Home Type

Multi-Family

Year Built

Built in 1899

Lot Details

0

Listing Details

  • Cross Street: Patchen Avenue/Ralph Avenue
  • Property SubType: Multi Family
  • Property Type: Residential
  • Neighborhood: Stuyvesant Heights
  • Architectural Style: Prewar
  • ResoPropertyType: Residential
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 3

Interior Features

  • Equipment (Other): Intercom
  • Living Area: 3350.0
  • Living Area Units: Square Feet

Beds/Baths

  • Full Bathrooms: 4
  • Bathrooms Integer: 4
  • Bedrooms: 7

Garage/Parking

  • Garage: No

Lot Info

  • Lot Size Dimensions: 19.0 x 100.0

Building Info

  • Total Stories: 3
  • Year Built: 1899

Tax Info

  • Tax Block: 1638
  • Tax Lot: 30

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 27, 2018
Closed on
Aug 20, 2018
Sold by
962 Gates Ave Llc
Bought by
Oberoi Anjali
Seller's Agent
Yury Holohan
Compass
List Price
$1,575,000
Sold Price
$1,575,000
Current Estimated Value
$1,754,193

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$179,193
Avg. Annual Appreciation
-0.85%
Original Mortgage
$925,000
Outstanding Balance
$803,325
Interest Rate
4.5%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$675,652

Purchase Details

Closed on
Jul 24, 2014
Sold by
18 Empire Boulevard Llc
Bought by
962 Gates Ave Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$746,250
Interest Rate
4.14%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jul 31, 2013
Sold by
Williams Sandra
Bought by
18 Empire Blvd Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$400,000
Interest Rate
4.51%
Mortgage Type
New Conventional
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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
Oberoi Anjali $1,575,000 --
962 Gates Ave Llc $995,000 --
18 Empire Blvd Llc $450,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Oberoi Anjali $925,000
Previous Owner 962 Gates Ave Llc $746,250
Previous Owner 18 Empire Blvd Llc $400,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/20/2018 08/20/18 Sold $1,575,000 0.0% $470 / Sq Ft
07/21/2018 07/21/18 Pending -- -- --
04/27/2018 04/27/18 For Sale $1,575,000 -- $470 / 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 $3,626 $86,880 $19,020 $67,860
2024 $3,626 $79,560 $19,020 $60,540
2023 $3,631 $85,680 $19,020 $66,660
2022 $3,368 $83,040 $19,020 $64,020
2021 $3,355 $80,580 $19,020 $61,560
2020 $2,511 $79,380 $19,020 $60,360
2019 $2,388 $63,120 $19,020 $44,100
2018 $3,037 $14,898 $4,422 $10,476
2017 $2,866 $14,061 $6,287 $7,774
2016 $2,656 $13,285 $8,022 $5,263
2015 $1,600 $13,285 $8,617 $4,668
2014 $1,600 $12,538 $7,938 $4,600
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Real Estate Board of New York (REBNY)

MLS Number: RLS10830618

Real Estate Board of New York (REBNY)

APN: 01638-0030