Multifamily Property At 350 Audubon Avenue Sold For $2 Million With Amit Doshi & Shallini Mehra As Brokers

This multifamily property located at 350 Audubon Avenue in the Washington Heights market was sold for $2,000,000. The building features 15 units, comprised of 7 Free Market apartments and 8 Rent Stabilized apartments. The total square footage of the property is 11,205, resulting in a price per unit of $133,333 and a price per square foot of $178. The Gross Rent Multiplier (GRM) is reported at 6.2x, with a Capitalization Rate (CAP RATE) of 4.7%.

Summary of transaction details:

• Property Type: Multifamily (47% Free Market)
• Transaction Amount: $2,000,000
• Units: 15
• Price per Unit: $133,333
• Square Footage: 11,205
• Price per Square Foot: $178
• Gross Rent Multiplier: 6.2x
• Capitalization Rate: 4.7%

The deal was brokered by Amit Doshi and Shallini Mehra from Meridian Capital Group, who represented the seller in this transaction.