Meridian Capital Group’s Doshi and Mehra sell 2 multifamily buildings in The Bronx totaling over $14.9 million

Bronx, NY Meridian Capital Group’s Amit Doshi and Shallini Mehra have successfully closed on the sale of two rent stabilized, multifamily buildings totaling over $14.9 million. The properties are located at 3043-3045 Villa Ave. and 200 East 205th St. In both transactions, Doshi and Mehra represented the buyers and longtime owners.  

3043-3045 Villa Ave., built in 1925 by the seller, is a seven-story walkup corner building that spans 46,585 s/f, comprised of 41 apartments and seven stores. This property sold for $7.2 million, equating to $155 per s/f. 

200 East 205th St., built in 1941 by the seller, is a six-story elevator building with 61 apartments, within 81,070 s/f. This asset sold for $7.7 million, translating to $95 per s/f.

“We continue to engage actively in the rent stabilized market, recognizing that many property owners are prepared to accept initially lower yields for the long-term stability these investments offer. The primary appeal in the current market lies in the dependable income stream from a diverse tenant base, and with current cap rates, buyers can secure these assets at highly competitive prices," said Doshi.

"With our extensive expertise in the Bronx market, we provided the sellers with a precise valuation of their properties and identified ideal buyers, navigating the complexities of today's market to successfully close these deals," said Mehra.

Both properties are advantageously located in Bedford Park, close to the New York Botanical Garden, Mosholu Parkway, and Williamsbridge Oval. Residents will be nearby the Bedford Park Blvd [B, D] and Mosholu Parkway [4] subway stations. Additionally, the area is in proximity to Lehman College, Fordham University, and Montefiore Medical Center.