TARGO Capital Partners Acquires Multifamily Property On Lower East Side For $21.25M | 182-184 Stanton Street | James Nelson, Alexandra Marolda, Ryan McGuirl, Brandon Polakoff | MultiFamily | Sale

Summary

Sale

NEW YORK

MultiFamily

24,296 sqft

Located in the Lower East Side, the multifamily property at 182-184 Stanton Street was recently sold in a transaction. The asset consists of a corner building with a total of 18 fully leased units. The property is 100% free market, offering attractive investment potential.

Summary of transaction details

Property Type: Multifamily
Transaction Amount: $21,250,000
Date: 12/20/2021
Address: 182-184 Stanton Street
Market: Lower East Side
Gross Square Footage: 24,296
Price per Square Foot: $875
Capitalization Rate: 4.6%

TARGO Capital Partners, represented by David Gleitman and Adam Basuljevic, acquired the property from Centennial Properties NY, represented by Jake Croman. The deal was facilitated by brokers James Nelson, Brandon Polakoff, Alexandra Marolda, and Ryan McGuirl of Avison Young. The transaction closed swiftly within just 6 days.

TARGO Capital Partners expressed their satisfaction with the purchase, highlighting the fact that this marks their third acquisition in Downtown Manhattan in the past eight months. They specifically sought out multifamily and mixed-use assets in prime Manhattan neighborhoods. For any potential deals, they can be reached at [email protected].

Players

All
5

Agents
4
Agencies
1

$1.5B Sold

$579.6M Sold

$431M Sold

$1.1B Sold

Details

Deal Summary

SOLD

IMAGE: James Nelson, Alexandra Marolda, Brandon Polakoff, Ryan McGuirl, David Gleitman & Adam Basuljevic DATE: 12/20/2021 ADDRESS: 182-184 Stanton Street MARKET: Lower East Side ASSET TYPE: Multifamily BUYER: TARGO Capital Partners (@TARGOCP) - David Gleitman (@DavidGleitman) & Adam Basuljevic (@AdamBasuljevic) SELLER: Centennial Properties NY - Jake Croman BROKERS: James Nelson (@JamesNelsonNYC), Brandon Polakoff (@BFPolly), Alexandra Marolda (@Alexandra_M_690) & Ryan McGuirl - Avison Young (@Avison_Young_Global) SALE PRICE: $21,250,000 GSF: 24,296 ~ PPSF: $875 CAP: 4.6% NOTE FROM TARGO: Fully leased 18-unit, 100% free market corner building purchased at a 4.6% cap rate. Transaction closed within 6 days & marks our third acquisition in Downtown Manhattan over the past eight months. We continue to look for multifamily & mixed-use assets in Prime Manhattan neighborhoods. Please send all deals to [email protected].

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Address182-184 Stanton Street

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