Updated Feb 25, 2026
David Gleitman Of TARGO Capital Partners Secures $13.3M Acquisition Loan From Citizens Bank In Nolita
242 Elizabeth Street & 236 Elizabeth Street
$13,300,000
$460/SF
Building Size
14,451 SF
Asset Type
MultiFamily
Closing
Jan 26, 2026
About this deal
AI
The property asset involved in the transaction includes two multifamily buildings located at 236 and 242 Elizabeth Street in Nolita, Manhattan. The total asset encompasses 14,451 built square feet with an acquisition loan amount of $13,300,000. The properties feature 12 residential units in addition to 7,733 square feet of air rights.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $13,300,000
- Address: 242 Elizabeth Street & 236 Elizabeth Street
- Market: Nolita, Manhattan
- Lender: Citizens Bank
- Landlord: David Gleitman - TARGO Capital Partners
- Loan Type: Acquisition
Notably, TARGO Capital Partners facilitated the acquisition loan from Citizens Bank, representing David Gleitman in the transaction of these multifamily assets.
On the Map
$13,300,000
$460/SF
MultiFamily
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Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.19%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93