Kings Capital acquires Manhattan multifamily for $5.5 million

Manhattan, NY Kings Capital has acquired a 9,200 s/f mixed-use property located at 140 Mulberry St. for $5.5 million.The property consists of nine residential apartments and one retail store spanning two buildings. This sale marks the first sale of the building in over 60 years.

Located in the Little Italy neighborhood, at the border of Nolita and Soho, 140 Mulberry St. is close to restaurants, bars, shopping, and public transportation.

After concentrating primarily on Brooklyn multifamily, Kings Capital found an opportunity to acquire its first multifamily in the borough at the height of the pandemic.

“While New York City commercial real estate appeared to slow down, and there was much uncertainty in the marketplace, we viewed that as an opportunity to be aggressive and acquire our first multifamily property in Manhattan mid-pandemic. We believe in New York’s resilience, and long term growth and will be aggressively looking to acquire a few more assets by years-end,” said George Giannopoulos.