Doshi, Mehra and Jauregui of Besen & Associates secure $4 million sale of 512-514 West 180th Street

New York, NY Besen & Associates arranged the sale of 512-514 West 180th St. for $4 million. Amit Doshi and Shallini Mehra represented the seller and Miguel Jauregui procured the buyer. Built in 1909, the property is located between Audubon and Amsterdam Aves. and consists of 20 apartments. The 21,950 total s/f, 5-story walk-up building is built on a lot size of 50’ x 100’. Layouts for the building by room count include 18 three-bedrooms and 2 two-bedrooms. The sale price of $4 million equates to a gross rent multiplier (GRM) of 12, $200,000 price per unit, $182 per s/f and a 4.5% capitalization rate. Legal representation on the transaction was by Adam Rothkrug, Esq. of Rothkrug, Rothkrug & Spector, LLP for the seller and Daniel Cohen, Esq. of Jeffrey Zwick and Associates for the purchaser.