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David Gleitman Of TARGO Capital Partners Secures $13.3M Acquisition Loan From Citizens Bank In Nolita
FINANCED
$13,300,000
New York
See Similar DealsMultiFamily28,902 SF
Financed 01/26/2026
FINANCED
David Gleitman Of TARGO Capital Partners Secures $13.3M Acquisition Loan From Citizens Bank In Nolita
242 Elizabeth Street & 236 Elizabeth Street
See Similar DealsMultiFamily28,902 SF
Financed 01/26/2026
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$460
Total Square Footage:28,902 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$13,300,000.00
Monthly NOI$88,666.67
Monthly Debt Service$84,065.05
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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