Marcus & Millichap brokers $57 million mixed-use portfolio sale

Manhattan, NY Marcus & Millichap has completed the $57 million sale of a six-building mixed-use portfolio in the East Village.

“This 79% non-rent-stabilized portfolio includes three tax-class-protected buildings, an elevator building, and spans over 59,000 gross s/f,” said Joe Koicim of the NYM Group of Marcus & Millichap. “Acquired with attractive, assumable in-place debt, the assets are poised to generate income and appreciation for the buyer over the long term.”

Koicim, Logan Markley, Matthew Berger, and Zan Colin of the NYM Group of Marcus & Millichap represented the seller, Kushner Companies, and procured the buyer, a limited liability company associated with David Gleitman’s Targo Capital Partners.

The portfolio of 109 apartments and one commercial unit located at 118-120 East 4^th St., 199-203 East 4^th St. and 315 East 10^th St. The property locations give renters and tenants access to restaurants, leading academic institutions, nightlife, parks, historical sites, and transportation. Union Sq., Tompkins Sq. Park, and Washington Sq. Park are within walking distance.