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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%2Fe2a6ba18-015a-44db-8ecd-a1cbb2595e35%2Fbb54e377-c5ed-462b-af55-ee482702efae" onerror="this.style.display='none'" alt="Aris Portfolio II Image" style="object-fit: cover; width: 200px;" />
 Mixed Use / Multifamily / Office 
 
 Aris Portfolio II
 
 Jackson Heights, NY 
 By Meridian Capital Group

 <a href="/user/b5d377d3-6b30-460f-8db2-4770eb063c5a" style="margin-top: 0.5rem; font-size: 10px; text-decoration: underline;">Shallini Mehra</a>
 
 Managing Director
 
 
 <a href="tel:(212) 468-5958" style="margin-top: 0.25rem; font-size: 10px; text-decoration: underline;">(212) 468-5958</a>
 

 <a href="https://platform.reverecre.com/project/e2a6ba18-015a-44db-8ecd-a1cbb2595e35" target="_blank" style="text-decoration: underline; color: #2E74B3; text-align: left; margin-top: 0.5rem">
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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

This Rent Stabilized Portfolio is 97% occupied with strong collections of 90%+ offering an investor stable cash flow. Tenants are attracted to the spacious and bright units as well as the on-site laundry facilities and bike storage. In addition, there is medical office space in each building offering a neighborhood amenity and income diversification.

Combined, the Portfolio boasts preferential rents of $579,289 offering a new investor rental upside of 20% – 25% upon unit turnover.

LONG TERM OWNERSHIP AND EXCELLENT CONDITION

Ownership has held Senate Gardens since 2005 (20-year ownership) and Georgian Gardens since 1986 (40-year ownership). The Portfolio has been meticulously maintained and ownership has spent $800,000 in capital expenditures.

The Portfolio is located two blocks south of Northern Boulevard, one block north Roosevelt Avenue and a few blocks east of the vibrant restaurant scene on Broadway, 73rd and 74th Streets. Nearby subway include the 7 Train at the 82nd-Jackson Heights station and the E, F, M, and R Trains on 65th Street. The strong location with nearby restaurants, retail, and mass transportation serve as stable anchors for the Jackson Heights neighborhood.

Sales Team

Meridian Investment Sales is pleased to present for sale The Aris Portfolio II (“the Portfolio”), a collection of two pre-war elevator buildings with medical offices located in the heart of Jackson Heights, Queens. Georgian Gardens at 82-01 and Senate Gardens at 82-15 35th Avenue are located next to each other between 82nd and 83rd Streets. Combined, the Portfolio includes a total of 105,219 square feet, 92 apartments and three medical office spaces. Senate Gardens has 20 fair market apartments, while the remaining 72 apartments in the Portfolio are under rent regulation. The Portfolio, which has been held under a long-term ownership, has been meticulously maintained and boasts 97% occupancy.

Since January 2021, ownership has spent $800,000 on capital improvements including new limestone and camelback parapets on the roof, water proofing, brick replacement, and upkeep to historic landmark features as needed.

The Portfolio offers new investors significant rental upside with preferential rents of $579,289. The properties are close to various subway stations including the 7 Train on 82nd-Jackson Heights and the E, F, M, and R Trains on 65th Street.

The Aris Portfolio II offers investors an opportunity to acquire a sizable portfolio with durable cash-flow for a long-term investment horizon.

Shallini Mehra joined Meridian Investment Sales in August 2018 as a Managing Director. Ms. Mehra was previously with a boutique investment sales firm, where she spent 16 years. She has successfully completed more than $1 billion in real estate transactions across all asset classes including multifamily stabilized assets, mixed use, commercial, retail, SRO's, development, affordable housing, note sales, air rights, residential coops and condos. Her background in finance and strong analytical skills combined with her tenacious nature and diplomacy has proven highly beneficial to her clients in achieving their real estate goals. 

Her prior experience includes three years in investment banking at J.P. Morgan, where she worked in various groups including Real Estate and Lodging, Syndicated Finance and Telecom, and Media and Technology. Before J.P. Morgan, Ms. Mehra spent four years with Arthur Andersen in its Audit & Business Advisory Practice working with Financial Institution clients. 

Ms. Mehra graduated from Binghamton University with a B.S in Accounting and received her MBA from The Leonard N. Stern School of Business at New York University. Ms. Mehra is a member of The Real Estate Board of New York (REBNY), Community Housing Improvement Program (CHIP) and the Young Men's / Women's Real Estate Association of New York (YMWREA).

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