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East Village Mixed-Use Portfolio Sold for $57M
A limited liability company associated with David Gleitman’s Targo Capital Partners has acquired a six-building mixed-use portfolio in East Village from Kushner Companies for $57 million.
The portfolio, comprising 109 apartments and one commercial unit, is 79% non-rent-stabilized and spans over 59,000 gross square feet. The assets include three tax-class-protected buildings and an elevator building. The properties are located at 118-120 East 4th Street, 199-203 East 4th Street, and 315 East 10th Street.
Joe Koicim, Logan Markley, Matthew Berger, and Zan Colin of the NYM Group of Marcus & Millichap represented the seller and procured the buyer. “This 79% non-rent-stabilized portfolio includes three tax-class-protected buildings, an elevator building, and spans over 59,000 gross square feet,” said Koicim. “Acquired with attractive, assumable in-place debt, the assets are poised to generate income and appreciation for the buyer over the long term.”
- ◦Sale/Acquisition
