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Targo Capital Partners Acquires Multifamily Properties In East Village For $16.8M

Property Image
SOLD
$16,800,000
Joseph (Joe) Koicim
Matt Berger
Logan Markley

New York

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MultiFamily19,596 SF
Sold 08/04/2022
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Property Image
SOLD

Targo Capital Partners Acquires Multifamily Properties In East Village For $16.8M

326 East 4th Street

See Similar Deals
MultiFamily19,596 SF
Sold 08/04/2022
Joseph (Joe) Koicim
Matt Berger
Logan Markley
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$857
Total Square Footage:19,596 SF
Transaction Type:Sale

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

Logan Markley
Marcus & Millichap
Logan Markley
70 deals$970.7M volume(212) 430-5194
BROKER
Joseph (Joe) Koicim
Marcus & Millichap
Joseph Koicim
172 deals$2.7B volume(212) 430-5147
BROKER
Matt Berger
Marcus & Millichap
Matt Berger
21 deals$391.5M volume
BROKER

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].

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