Amit Doshi & Shallini Mehra Of Meridian Capital Group Facilitate Sale Of Upper West Side SRO For $4.17M

The property asset involved in this transaction is an SRO consisting of 109 units located at 312 West 93rd Street in the Upper West Side market. The sale price of the property was $4,170,000, and it was sold for all cash. The building has a total square footage of 31,590, resulting in a price per square foot of $132. The GRM is reported at 4.88x and the cap rate is 3.5%. The property has a vacancy rate of 33% and was sold for the first time in 50 years.

Summary of transaction details:

• Property Type: SRO Units
• Transaction Amount: $4,170,000
• Units: 109
• Square Footage: 31,590
• Price Per Unit: $38,256
• Price Per Square Foot: $132
• Gross Rent Multiplier: 4.88x
• Cap Rate: 3.5%
• Market: Upper West Side
• Address: 312 West 93rd Street
• Brokers: Amit Doshi & Shallini Mehra - Meridian Capital Group

Amit Doshi and Shallini Mehra from Meridian Capital Group represented the transaction, facilitating the sale process. Their involvement highlights the importance of brokerage expertise in navigating real estate transactions in dense urban markets like the Upper West Side.