Kings Capital Acquires Mixed-Use Property In Little Italy For $5.5M

140 Mulberry St. in Little Italy has been sold in a recent transaction. The mixed-use property was purchased by Kings Capital from Antonio & Joseph Rizzo. The deal was facilitated by Matthew Fotis & Colton Traynham of MarcusMillichap_NY. Kings Capital, the buyer, is represented by its landlord, Kings Capital RE. The sale price for the property was $5,500,000, with a total square footage of 8,500. This translates to a price per square foot of $647.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $5,500,000
• Date: 04/14/2021
• Market: Little Italy
• Buyer: Kings Capital
• Seller: Antonio & Joseph Rizzo
• BROKER: Matthew Fotis & Colton Traynham - MarcusMillichap_NY
• Landlord: Kings Capital - KingsCapitalRE
• Address: 140 Mulberry St.
• Square Footage: 8,500
• Price per Square Foot: $647

This transaction represents a significant milestone as it is the first sale of the property in over 70 years. Kings Capital has been actively acquiring properties post-Covid and this marks their fourth acquisition. In addition to this property, they are currently in contract for three more properties. Kings Capital is actively seeking value-add multifamily, mixed-use, development, and redevelopment sites in Manhattan, Brooklyn, Queens, the Bronx, and nationally for garden-style multifamily investments. For any potential opportunities, interested parties can reach out to [email protected]. The buyer, Kings Capital, would like to extend their appreciation to The Law Offices of Joseph Cohen.