David Werner Acquires Retail Property On Madison Avenue In Central Midtown, Manhattan For $27.25M

The retail property located at 525 Madison Avenue in Central Midtown, Manhattan has been sold in a recent transaction. The property is zoned as C5-3, MID and has a lot size of 3,200 square feet with dimensions of 40 ft x 80 ft. The building has a total square footage of 15,200, with a price per square foot of $1,793. The buyer, David Werner, acquired the property from the seller, Melvin S Heller, for a total price of $27,250,000. The building has a total BSF (Buildable Square Footage) of 48,000, resulting in a price per BSF of $568. The property's FAR (Floor Area Ratio) is 4.75, and it falls under tax class 4. The previous sale price of the property was $0.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $27,250,000
• Market: Central Midtown, Manhattan
• Zoning: C5-3, MID
• Lot Size: 3,200 square feet
• Building Square Footage: 15,200
• Price per Square Foot: $1,793
• BSF: 48,000
• Price per BSF: $568
• FAR: 4.75
• Tax Class: 4
• Previous Sale Price: $0
• Lot Dimension: 40 ft x 80 ft

Davis Werner acted as the buyer in this transaction, representing his own interests. Melvin S Heller represented himself as the seller. With this transaction, David Werner has made a significant investment in the Central Midtown market of Manhattan.