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New York & Tri-State  + Uptown/Bronx  + Apartments  | 
Bronx 1890 Andrews Avenue South

Meridian’s Team Doshi Closes Sale of Rent-Stabilized Morris Heights Property

Meridian’s Amit Doshi and Shallini Mehra recently closed on the sale of 1893 Andrews Avenue So., also known as 130-136 W. Burnside Ave. a six-story corner building in the Bronx’s Morris Heights neighborhood. It sold for $8.04 million at a 5.9% cap rate. 

Doshi and Mehra represented both the seller, Galaxy General Contracting Corporation, and the purchaser, RJ Block Properties. The property, which has a tax abatement expiring in 2027, contains 59 apartments and two stores and was gut renovated in 1991 by the former ownership. 

“There is a strong demand for well-maintained, 100% rent-stabilized assets, which have consistent cash flow,” said Doshi. “The low-interest rate climate has propelled the secondary markets to new heights, the likes of which we have not seen since prior to the COVID stagnation.” 

Mehra added, “This property hit all metrics the purchaser was seeking, including having minimal violations.” 


Inside The Story


About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-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 7-10 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
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