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184-186 Bleecker Street

TARGO Capital Partners Acquires Mixed-Use Properties In Greenwich Village For $14.5M
SOLDMixed-use

TARGO Capital Partners Acquires Mixed-Use Properties In Greenwich Village For $14.5M

184-186 Bleecker Street

$14,500,000

$1,199/SF

Building Size

12,087 SF

Asset Type

Mixed-use

Closing

Aug 9, 2022

AI

184-186 Bleecker Street, located in Greenwich Village, has been sold in a recent transaction. This mixed-use property encompasses a total of 12,087 square feet. The sale price for the property was $14,500,000, resulting in a price per square foot of $1,199. The buyer of the property is TARGO Capital Partners, represented by David Gleitman and Adam Basuljevic. The seller of the property is SMA Equities. The transaction was facilitated by brokers Matthew Homapour and Jacob Harooni from SP Capital Group.

Summary of Transaction Details

  • Property Type: Mixed-use
  • Transaction Amount: $14,500,000
  • Address: 184-186 Bleecker Street
  • Market: Greenwich Village
  • Buyer: TARGO Capital Partners - David Gleitman & Adam Basuljevic
  • Seller: SMA Equities
  • Brokers: Matthew Homapour & Jacob Harooni - SP Capital Group
  • Square Footage: 12,087
  • Price per Square Foot: $1,199

TARGO Capital Partners, through David Gleitman and Adam Basuljevic, purchased these two adjacent mixed-use properties in Greenwich Village. The properties were acquired off-market and offer potential for value-add in the apartments. This acquisition marks TARGO's sixth purchase in Downtown Manhattan within the last 18 months. They remain interested in acquiring multifamily and mixed-use assets in prime Manhattan neighborhoods. For any further investment opportunities, interested parties can reach out to Matthew Homapour and Jacob Harooni from SP Capital Group.

Players

Jacob Harooni

SP Capital Group

Broker

$52.1M

vol

10 deals

Broker
David Gleitman

David Gleitman

TARGO Capital Partners

Buyer

$243.6M

vol

12 deals

Buyer
SMA Equities
SMA EquitiesSeller

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.09%

Cash-on-Cash

-0.31%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93