Pamera North America And TARGO Capital Partners Acquire 640 Broadway From Acadia Realty Trust For $49.5M

The asset involved in the transaction is a mixed-use, multi-housing, and retail property located at 640 Broadway in the Noho market. The property consists of 21 units and encompasses a total square footage of 53,439. The sale was executed for a total amount of $49,500,000.

Summary of transaction details:

• Property Type: Mixed-use, Multi-Housing & Retail
• Transaction Amount: $49,500,000
• Buyer: Cord Ernst & Aaron Bothner - Pamera North America; David Gleitman & Adam Basuljevic - TARGO Capital Partners
• Seller: Acadia Realty Trust
• Brokers: Steven Rutman, Rob Hinckley, Jeffrey Julien & Ethan Stanton - JLL
• Units: 21
• Square Feet: 53,439

Pamera North America and TARGO Capital Partners have engaged in their first joint acquisition with this purchase, marking their strategic interest in multifamily opportunities in prime Manhattan locations. The partnership is well-capitalized with a focus on value-add multifamily properties as they expand their portfolio.