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
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