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<div style="display: flex; flex-direction: column; margin-top: 0.15rem; width: 200px; height: fit-content; align-items: left;
 justify-content: center; font-family: Inter,sans-serif; ">
 <img src="https://cf.reverecre.com/cdn-cgi/image/w=200,h=undefined,fit=scale-down/https://storage.googleapis.com/revere-user-uploads/project%2F4187fcf7-f754-4464-a2e2-d4b489cd1234%2Fa61938bf-815a-472f-9756-7aecf6a7f764" onerror="this.style.display='none'" alt="1785 Townsend Avenue Image" style="object-fit: cover; width: 200px;" />
 Multifamily 
 
 1785 Townsend Avenue
 
 Mount Hope, Bronx, NY 
 By Meridian Capital Group

 <a href="/user/82c5898a-f8cd-4b4c-ae32-69e6799d295a" style="margin-top: 0.5rem; font-size: 10px; text-decoration: underline;">Amit Doshi</a>
 
 Senior Executive Managing Director
 
 
 <a href="tel:212-468-5959" style="margin-top: 0.25rem; font-size: 10px; text-decoration: underline;">212-468-5959</a>
 

 <a href="https://platform.reverecre.com/project/4187fcf7-f754-4464-a2e2-d4b489cd1234" target="_blank" style="text-decoration: underline; color: #2E74B3; text-align: left; margin-top: 0.5rem">
 View Listing
 </a>
 </div>

Meridian has arranged financing for many of the country’s leading real estate investors and developers. The experts on our in-house underwriting and placement teams tailor creative, best-in-class solutions for our clients’ unique needs.

Clients benefit from our long-standing relationships with more than 250 traditional and non-traditional lenders, including local, regional, and national banks; CMBS lenders; agency lenders; mortgage REITs; life insurance companies; credit unions; private equity funds; and other specialty finance firms.

Service is Meridian’s hallmark, which in tandem with substantial experience across our three divisions has allowed us to achieve the most accretive and creative solutions for our clients in a seamless process that maximizes value at every step. Meridian’s clients also benefit from our unparalleled, real-time market intelligence and our deep relationships with a full array of local, national, and international buyers, enabling us ot target a subset of the most likely buyers of any given property.

Meridian’s investment sales division distinguishes itself with our intimate knowledge of New York City real estate, having a detailed understanding of not only how tenancies and cash flows drive value, but also how zoning, land use, air rights, and alternative uses are integral parts of a property’s economics.

Meridian’s retail leasing team understands the market, knows the active operators, and cultivates targeted opportunities for each asset to achieve favorable results for our clients. Our retail leasing knowledge is further supported by the company’s unparalleled access to information and comparables via the firm’s debt capital markets and investment sales businesses, providing clients with exceptional service and in-depth market insights.

Senior Executive Managing Director

Managing Director

Financial Analyst

Marketing Associate

5-Story (plus cellar) walkup building | 48,753 GSF | 59 units

Tax benefits through the Article XI Regulatory Agreement-POMP 9

Tax exemption began in 2017 and expires in 2047 (30-year program)

Total tax savings = $4.9M | NPV of tax savings is approximately $1.6M

Immaculate paperwork | Minimal violations | No open DHCR complaints or rent overcharges

Sales Team

Built in 1924, 1785 Townsend Avenue is a 5-story (plus cellar) walkup apartment building that has 48,753 SF and includes 59 apartments. The property benefits from a 30-year Article XI tax exemption (2017-2047). 1785 Townsend Avenue is located on the SW corner of Townsend Avenue and East 176th Street, one block west of Grand Concourse with ample shopping and public transportation including the #4 Train, which is located steps away on West 176th Street.

Mr. Doshi joined Meridian Investment Sales as a Senior Executive Managing Director to head the mid-market multifamily investment sales sector. Prior to joining Meridian, Mr. Doshi spent 30 years as a partner at a boutique investment sales firm, spearheading a tight knit team of 20 investment sales brokers. To date, Mr. Doshi has sold over 1,400 investment properties whose market value is in billions, making him one of the most prolific and consistent producers in New York City investment arena in the last three decades.

His experience consists of selling more than 55 million square feet comprising of 63,500 apartments, 2,850 retail and commercial spaces as well as several land development properties in NYC and its boroughs. Mr. Doshi has achieved an average of 40 deals per year throughout his career, including 57 deals in 2005. In 2007, he set the mark even higher, by selling a multifamily portfolio for a single family comprising of 108 buildings for a record price of $295,000,000. From multifamily properties to land assemblages, he has gained a strong foothold by mastering the vagaries associated with rent stabilization, regulatory agreements, complex leaseholds, ground leases and zoning laws. Mr. Doshi was recruited to dispose Real Estate Owned and non-performing loans during the 1990's banking and real estate crisis for quasi government institutions such as Federal Home Loan Mortgage Corporation (FHLMC), Resolution Trust Corporation (RTC) as well as many leading Commercial banks, S & L's and private lenders.

He has been named a "Power Broker" for multiple years by CoStar Research and other industry experts, in recognition of being one of top 10 Brokers in sales transactions. Mr. Doshi received his B.S in Engineering from the State University of New York at Stony Brook. He is an ardent supporter of numerous charitable causes as well as is a member of many professional organizations.

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