Meridian Team Handles Kips Bay Sale on Compressed Timeline
Meridian’s Amit Doshi, Shallini Mehra and David Schechtman closed on the sale of 212 E. 29th St., a five-story, mixed-use walkup in Manhattan’s Kips Bay neighborhood. The property sold for $6,075,000.
Gut renovated in 2011, the 9,460-square-foot property includes 13 apartments and two stores. Meridian’s Shamir Seidman negotiated the acquisition financing from a regional bank.
“The seller needed a year-end closing due to potential tax law changes,” said Doshi. “Meridian coordinated both the sale and the financing in under 45 days to successfully meet this compressed timeline.”
Mehra added, “212 E. 29th was renovated with high-end finishes, and each unit has two bathrooms, which is unusual for a walkup. These renovations add further rental appeal, especially to students, and allows for the property to achieve above market rents.”
The property is surrounded by Baruch College to the south, NYU Langone to the east and Madison Square Park to the west.
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 GlobeSt.com 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).