Klosed Properties acquires 20 St. Marks Place

New York, NY Klosed Properties purchased 20 St. Marks Place. The subject property is a 9,200 s/f mixed-use building, located in the East Village, on St. Marks, between 2nd & 3rd Aves. The property is located nearby Cooper Square, 51 Astor Place, & NYU. The lower level retail is occupied by Grassroots Tavern, a vintage pub, who has been at the location for over 40 years. Steven Kachanian, principal of Klosed Properties said, “We are thrilled about the long-term potential of this asset. The retail rents on this stretch are on the rise. This is a very strong block on St. Marks. In addition to the upside of the retail, there is strong potential in the apartments. We would like to thank Tito Ghose from Halstead for facilitating this complicated transaction. Additionally, Jason Au from Au Consultants Inc. helped us secure financing for this transaction.” Jacob Namdar, Senior Director of Acquisitions added, “Our firm is continuously and aggressively looking to expand our retail and residential portfolio of investments in this market, as well as growing neighborhoods in NYC, Brooklyn, Bronx, & Queens.”