Meridian Capital Group Brokers Sell Mixed-Use Property In Forest Hills For $22.018M

The mixed-use property located at 110-20 73rd Road in Forest Hills has been sold for a transaction amount of $22,018,000. This property comprises 78 units with a price per unit (PPU) of $282,000. It spans a total area of 78,650 square feet, resulting in a price per square foot (PPSF) of $279. The Gross Rent Multiplier (GRM) for this property is 11.6x, and it has a capitalization rate (CAP) of 4.25%.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $22,018,000
• Units: 78
• Price per Unit (PPU): $282,000
• Area: 78,650 square feet
• Price per Square Foot (PPSF): $279
• Gross Rent Multiplier (GRM): 11.6x
• Capitalization Rate (CAP): 4.25%

The sale of this property was facilitated by Amit Doshi, Chirag Doshi, and Brian Gladstone from Meridian Capital Group acting as brokers in the transaction.