Meridian’s Doshi and Mehra sell a long-term Bronx residential asset

 

 

Bronx, NY Meridian’s Amit Doshi and Shallini Mehra closed on their exclusive at 3045 Godwin Terrace, a six-story elevator building. The 68,610 s/f property is currently configured with 74 apartments. The building sold for $8.6 million translating to $125 per s/f.

“Many investors seek properties with a low basis, like this one which sold for $125 per s/f. The property had been under long-term ownership for 40+ years. Built in 1940, the building features apartments with 1940’s art deco elements including sunken living rooms,” said Doshi.

“3045 Godwin Terrace resides in the Kingsbridge neighborhood, known for its iconic architecture and sprawling green spaces. Kingsbridge is just north of Manhattan, offering tenants quick access to all of New York City,” said Mehra.

3045 Godwin Terrace is near Lehman College and Manhattan College. The property is one block west of the corner of 231st St. and Broadway, which is filled with numerous retail and shopping options along the Broadway corridor. The property is also near the Kingsbridge Library, Van Cortlandt Park, and Marble Hill Playground, attracting a blend of young adults and families.

Meridian’s Doshi and Mehra represented both the buyer, Cedarbridge Management, and the seller, Godwin Realty Associates. Attorney Robert Sandler of Farrell Fritz, P.C. represented the seller, while Jacob Rappaport of Levin Gann PA represented the buyer.