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TARGO Capital Partners Acquires Multifamily Property In West Village For $8.4M

661 Washington Street
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This MultiFamily property located in NY was sold for $8,400,000 almost 3 years ago. The brokers of the deal were Udi Eliasi and Adelaide Polsinelli

Located at 661 Washington Street in the West Village, this multifamily property was recently sold in a closed transaction. The property spans across 10,235 square feet, with a price per square foot of $820. It consists of 13 units, resulting in a price per unit of $646,153. The sale price for this transaction was $8,400,000, significantly lower than the initial asking price of $12,500,000. With a cap rate of 2.4%, this property offers potential for attractive returns.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $8,400,000
  • Market: West Village
  • Square Footage: 10,235
  • Price per Square Foot: $820
  • Number of Units: 13
  • Price per Unit: $646,153
  • Note: 661 Washington St. was delivered 70% occupied.

TARGO Capital Partners was the buyer in this transaction, while the seller was 661 Washington Street Corp., represented by Andrew Galway. The deal was facilitated by broker Adelaide Polsinelli from ompass and Udi Eliasi from Compass Commercial New York.

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Deals
  • Location
    661 Washington Street, Manhattan, New York, NY, USA661 Washington Street, Manhattan, New York, NY, USA
  • Sale Price
    $8,400,000$8,400,000
    $820 PPSF$820 PPSF
  • Area
    10,235 SF10,235 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    2 Brokers, 1 Agency2 Brokers, 1 Agency

Agents

Udi Eliasi

Udi Eliasi

Deals3
Financed$8.4M

Adelaide Polsinelli

Adelaide Polsinelli

Deals14
Financed$224.5M

Agency

Compass

Compass

Agency
Deals2902
Volume$20.9B

Social

Deal Summary

SALE IMAGE: Adam Basuljevic, Adelaide Polsinelli, David Gleitman DATE: 05/06/2021 ADDRESS: 661 Washington Street MARKET: West Village ASSET TYPE: Multifamily BUYER: TARGO Capital Partners @TARGOCP SELLER: 661 Washington Street Corp. - Andrew Galway BROKER: Adelaide Polsinelli & Udi Eliasi - @Compass @CompassCommercialNewYork ASKING PRICE: $12,500,000 SALE PRICE: $8,400,000 SF: 10,235 ~ PPSF: $820 UNITS: 13 ~ PPU: $646,153 CAP: 2.4% NOTE: 661 Washington St. was delivered 70% occupied.

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661 Washington Street

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