Jeff Sutton signs as buyer of $14M Gravesend home near two other Sutton residences

Jeff Sutton was the signatory for an LLC that paid $14 million to members of the Chera family for the single-family home (A7) near Avenue T in Gravesend, Brooklyn.
The deal closed on July 6, 2022 and was recorded on July 18, 2022. The property has 6,222 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $2,250 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)

Jeff Sutton is ranked a billionaire with a net worth of $3.1 billion, who made his fortune in New York City retail real estate.

Jeff Sutton owns two other homes within a hundred feet of this newly acquired residence. The other two are corner properties on Avenue T. This new home is separated from one of those properties by one single-family house, which is owned by a another member the Chera family.

The property

The newly acquired home has frontage of 45 feet and is 100 feet deep with a total lot size of 4,500 square feet. The zoning is R3-1 which allows for up to 0.5 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $5.2 million.