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111 Reade Street

David Gleitman And Adam Basulejvic Of TARGO Capital Partners Acquire Mixed-Use Property In Tribeca For $9.7M
SOLDMixed-use

David Gleitman And Adam Basulejvic Of TARGO Capital Partners Acquire Mixed-Use Property In Tribeca For $9.7M

111 Reade Street

$9,700,000

$1,102/SF

Building Size

8,800 SF

Asset Type

Mixed-use

Closing

May 6, 2025

AI

The property asset involved in the transaction is a mixed-use building located at 111 Reade Street in the Tribeca market. It was sold for a total consideration of $9,700,000, encompassing 8,800 square feet, which translates to a price per square foot of $1,102.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $9,700,000
  • Square Footage: 8,800
  • Price per Square Foot: $1,102
  • Address: 111 Reade Street
  • Market: Tribeca
  • Buyer: David Gleitman & Adam Basulejvic – TARGO Capital Partners
  • Brokers: Maurice Suede, Mike Kavanagh & Eric Roth - Newmark

Key individuals in this transaction include David Gleitman and Adam Basulejvic representing TARGO Capital Partners as the buyers. The brokers facilitating the deal are Maurice Suede, Mike Kavanagh, and Eric Roth from Newmark, who played pivotal roles in bringing this transaction to completion.

Players

Maurice Suede

Newmark

Broker

$929.6M

vol

57 deals

Broker
David Gleitman

David Gleitman

TARGO Capital Partners

Buyer

$243.6M

vol

12 deals

Buyer
TP
TARGO Capital PartnersBuyer

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.64%

Cash-on-Cash

-0.47%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93