TARGO Capital Partners Acquires Mixed-Use Property In West Village For $5.2M
37-43 8th Avenue, West Village, New York, NY, USA
$5,192,000
$894/SF
Building Size
5,806 SF
Asset Type
Mixed-use
Closing
Sep 21, 2021
About this deal
AI
A mixed-use property located at 37-43 8th Avenue in the West Village has been sold for a price of $5,192,000. The property spans 5,806 square feet and was purchased by TARGO Capital Partners from Dalan Management. The sale reflects a price per square foot of $894.
Summary of Transaction Details
- Property Type: Mixed-use
- Transaction Amount: $5,192,000
- Address: 37-43 8th Avenue
- Market: West Village
TARGO Capital Partners, represented by David Gleitman and Adam Basuljevic, acquired this fully leased property in the prime West Village neighborhood at a 5.0% in-place capitalization (CAP) rate. TARGO plans to enhance the value of the residential portion of the property. This acquisition marks their second investment in the West Village area in recent months, as they actively seek multifamily and mixed-use assets in Downtown Manhattan. For any potential deals, they can be contacted at [email protected].
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
3.06%
Cash-on-Cash
-0.87%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93