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New York & Tri-State  + Downtown New York  + Retail  | 

Meridian Duo Seals Deal for Tribeca Retail Condo 

Meridian’s Chirag Doshi and Amit Doshi recently sold a 5,500-square-foot retail condominium at 326-332 Canal St., also known as 39-41 Lispenard St., in Manhattan’s Tribeca neighborhood. The property sold for $5.8 million at a 6.25% capitalization rate. The retail condominium was purchased by Silverstar Properties, based in New York City. 

“The seller closed on this deal due to an impending foreclosure action by their lender, among other reasons, and they needed a purchaser who could close at the drop off a hat,” said Chirag Doshi. “After receiving numerous bids, we identified Silverstar Properties who agreed to close on this transaction despite looming interest rate changes and fluctuating market conditions.”  

The Doshis represented both the seller, Kedzkidz Realty LLC, and Silverstar. The loan was procured by Alan Friedman of Meridian Capital Group and the lender was Connect One Bank. The property includes two art galleries and a streetwear store, Origins NYC. 


Inside The Story

Meridian Capital Group

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition