Meridian’s Team Doshi Closes Sale of Kingsbridge Multifamily
Meridian’s Amit Doshi and Shallini Mehra closed on the sale of 3045 Godwin Terr., a six-story elevator building in the Bronx’s Kingsbridge neighborhood. The 68,610-square-foot property is currently configured with 74 apartments. The building sold for $8.6 million, or $125 per square foot.
Doshi and Shallini Mehra represented both the buyer, Cedarbridge Management, and the seller, Godwin Realty Associates.
“Many investors seek properties with a low basis, like this one which sold for $125 per square foot,” said Doshi. “The property had been under long-term ownership for 40-plus years. Built in 1940, the building features apartments with 1940’s Art Deco elements including sunken living rooms.”
Mehra added, “3045 Godwin Terr. resides in the Kingsbridge neighborhood, known for its iconic architecture and sprawling green spaces. Kingsbridge is just north of Manhattan, offering tenants quick access to all of New York City.”