Gary Strauss Acquires Commercial Property In Turtle Bay, Manhattan For $41.5M

The commercial property located at 847 2 Avenue & 961 2nd Avenue in Turtle Bay, Manhattan was sold on April 8, 2022. The property has a zoning classification of C1-9, TA, and falls under the tax class 2. It has a lot size of 15,042 square feet with dimensions of 150.42 ft x 100 ft. The sale included alteration permits obtained on February 21, 2022.

Summary of transaction details

• Property Type: Commercial
• Transaction Amount: $41,500,000
• Building Square Footage: 182,760
• Price per Building Square Foot: $227
• Lot Square Footage: 79,602
• Price per Lot Square Foot: $521
• Floor Area Ratio (FAR): 7.49
• Buyer: Gary Strauss
• Seller: Kueichu Wang Hsu

Gary Strauss acted as the buyer in this transaction. Kueichu Wang Hsu represented the seller. The sale price of $41,500,000 reflects a price per building square foot of $227 and a price per lot square foot of $521. The lot has a total FAR of 7.49, allowing for potential future development.