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Meridian Team Handles Trade of Free-Market LIC Apartments
Meridian Investment Sales, the commercial property sales division of Meridian Capital Group, closed on the $47-million sale of 29-28 41st Ave., a multifamily building in Long Island City. The property sold for just under $500 per square foot or $408,000 per unit.
A team of Amit Doshi, Shallini Mehra and Jonathan Shainberg represented seller Jack Guttman, while Meridian’s David Schechtman, Abie Kassin and Adan Elias Kornfeld advised the purchaser, Arik Lifshitz of DSA Property Group. Meridian’s Avi Weinstock and Josh Rhine arranged a $31.5-million acquisition loan with Signature Bank.
Gut-renovated in 2015, 29-28 41st is 100% free market, spans 96,450 square feet and houses 115 apartments. “Properties of this scale and caliber don’t often trade in New York,” said Shainberg. “The appetite for free market multifamily assets is stronger now, more than ever, due to the change in rent laws.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition

