David Scheibe Acquires Apartment Building In Turtle Bay, Manhattan For $28.9M

The property involved in this transaction is located at 340 East 52nd Street in the Turtle Bay neighborhood of Manhattan. The asset type is an apartment with a zoning classification of R8B. The sale took place on May 26, 2022, with a sale price of $28,860,000. The building has a total floor area of 32,136 square feet, resulting in a price per square foot of $898. The total area of the property is 51,337 square feet, equating to a price per square foot of $562. The property has a floor area ratio (FAR) of 6.39 and is classified as tax class 2. The lot size is 8,034 square feet, with lot dimensions measuring 80 feet by 100.42 feet. An alteration permit was issued on November 1, 2019.

Summary of transaction details:

• Property Type: Apartment
• Transaction Amount: $28,860,000
• Market: Turtle Bay, Manhattan
• Buyer: David Scheibe
• Seller: Debra Mistretta
• Building Square Feet: 32,136
• Price per Building Square Foot: $898
• Property Square Feet: 51,337
• Price per Property Square Foot: $562
• Floor Area Ratio (FAR): 6.39
• Tax Class: 2
• Lot Size: 8,034 square feet
• Permits: Alteration 2 (11/01/2019)
• Lot Dimensions: 80 ft x 100.42 ft

David Scheibe was the buyer in this transaction, while Debra Mistretta was the seller.