Jeffrey Willoughby Acquires Multifamily Property In Turtle Bay, Manhattan For $6.5M

A multifamily property located at 413 East 50th Street in the Turtle Bay neighborhood of Manhattan has been sold. The property has a zoning designation of R8B and is situated on a lot size of 1,950 square feet. The property underwent an alteration permit on December 20, 2019. The lot dimensions are 19.42 feet by 100.42 feet. The transaction took place on September 29, 2022, with a sale price of $6,500,000.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $6,500,000
• Market: Turtle Bay, Manhattan
• Zoning: R8B
• Lot Size: 1,950 SF
• Permits: Alteration 2 (12/20/2019)
• Lot Dimension: 19.42 ft x 100.42 ft

Jeffrey Willoughby purchased the property from Taichi Soga. The property has a building square footage of 7,800, resulting in a price per square foot of $833. The total square footage of the lot is 4,426, making the price per square foot $1,468. The floor area ratio (FAR) for the property is 2.27, and it falls under tax class 1.