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.
- ◦Sale/Acquisition
