Amit Doshi And Shallini Mehra Of Meridian Capital Group Facilitate Sale Of Bronx 5 Building Package For $6.65M

This transaction involves a 5 Building Package consisting of 98 apartments located at 1048-1064 Sheridan Avenue in the Bronx. The sale was completed for a price of $6,650,000, resulting in a price per unit of $67,857. The total square footage of the properties is 99,254, equating to a price per square foot of $67. The gross rent multiplier (GRM) is 4.4x, with a capitalization rate (CAP Rate) of 9.6%.

Summary of transaction details:

• Property Type: 5 Building Package
• Transaction Amount: $6,650,000
• Units: 98
• Square Feet: 99,254
• Price Per Unit: $67,857
• Price Per Square Foot: $67
• Gross Rent Multiplier: 4.4x
• Capitalization Rate: 9.6%
• Date of Transaction: 12/31/2025
• Address: 1048-1064 Sheridan Avenue, Bronx

Amit Doshi and Shallini Mehra from Meridian Capital Group represented the sellers in this transaction. Notably, prior to the enactment of the 2019 HSTPA rent laws, the same properties were sold for $16.9 million, indicating a 60% discount in the current sale.