Michael J. Thompson Acquires Turtle Bay Commercial Property For $8.5M

The commercial property located at 123 East 47th Street & 125 East 47th Street in Turtle Bay, Manhattan has been sold. The transaction took place on February 8, 2022, with a sale price of $8,500,000. The property has a lot size of 1,360 and is zoned as C5-3, MiD. It is a commercial asset with a building square footage of 7,670 and a price per square foot of $1,108. The building has a total BSF (Buildable Square Feet) of 40,800, with a price per buildable square foot of $208. The FAR (Floor Area Ratio) is 2.84, and the property falls under tax class 2A. The property had undergone an alteration permit on October 30, 2020. The lot dimension is 17 ft x 80 ft.

Summary of transaction details:

• Property Type: Commercial
• Transaction Amount: $8,500,000
• Buyer: Michael J. Thompson
• Seller: James Knowles
• Market: Turtle Bay, Manhattan

Michael J. Thompson acted as the buyer in this transaction, while James Knowles was the seller. The deal involved the transfer of ownership of the property from James Knowles to Michael J. Thompson for the price of $8,500,000. The property is located in the Turtle Bay neighborhood of Manhattan, known for its commercial buildings. The transaction took place on February 8, 2022, and the property is zoned as C5-3, MiD. The lot size of the property is 1,360, and it has a total building square footage of 7,670. The price per square foot for the property is $1,108. The building has a total BSF of 40,800, with a price per buildable square foot of $208. The property's FAR is 2.84, and it falls under tax class 2A. It had undergone an alteration permit on October 30, 2020, indicating potential changes or updates to the property. The lot dimension of the property is 17 ft x 80 ft.