SOLD
Targo Capital Partners Acquires Multifamily Properties In East Village For $16.8M
326 East 4th Street
MultiFamily
19,596 SF
19,596 SF
Sold 1 year ago
Summary
Sale
NEW YORK
MultiFamily
19,596 sqft
The sale of a multifamily property in East Village has been completed at a price of $16,800,000. The property, located at 326-328 East 4th St., consists of 20 units with a total square footage of 19,596. The sale price per unit comes to $840,000, while the price per square foot is $857.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $16,800,000
- Address: 326-328 East 4th St.
- Market: East Village
- Units: 20
- Price per Unit: $840,000
- Square Footage: 19,596
- Price per Square Foot: $857
The buyer, Targo Capital Partners represented by David Gleitman and Adam Basuljevic, acquired the property from Stephen Schacter. The sale was facilitated by Joe Koicim, Logan Markley, and Matt Berger from Marcus & Millichap. This purchase marks TARGO's fifth acquisition in Downtown Manhattan. The buyer expresses interest in further investment opportunities in prime Manhattan neighborhoods and invites potential deals to be sent to [email protected].
Players
All
4
Agents
3
Agencies
1
Details
SOLD
IMAGE: Logan Markley, David Gleitman, Joe Koicim, Adam Basuljevic & Matt Berger
DATE: 08/04/2022
ADDRESS: 326-328 East 4th St.
MARKET: East Village
ASSET TYPE: Multifamily
BUYER: Targo Capital Partners (@TargoCP) - David Gleitman (@DavidGleitman) & Adam Basuljevic (@AdamBasuljevic)
SELLER: Stephen Schacter
BROKERS: Joe Koicim (@Joey1CAP), Logan Markley (@LoganMarkley) & Matt Berger (@MattBerger1) - Marcus & Millichap (@MarcusMillichap_NY)
SALE PRICE: $16,800,000
UNITS: 20 ~ PPU: $840,000
SF: 19,596 ~ PPSF: $857
NOTE FROM BUYER: Two 100% FM tax class 2B multifamily properties purchased at a 5.3% in-place cap rate with remaining upside in post-COVID leasing. Properties are adjacently situated on a prime residential block in the East Village, & marks TARGO’s fifth acquisition in Downtown Manhattan. We continue to look for multifamily & mixed-use assets in prime Manhattan neighborhoods. Please send all deals to [email protected].View on map
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Address326 East 4th Street
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