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245 7th Avenue

Updated Jan 6, 2026

Mike M. Nassimi Of Nassimi Realty Purchases Condo From Steve Emerson For $3.2 Million
SOLDCondo

Mike M. Nassimi Of Nassimi Realty Purchases Condo From Steve Emerson For $3.2 Million

245 7th Avenue

$3,193,000

$586/SF

Building Size

5,442 SF

Asset Type

Condo

Closing

Dec 8, 2025

About this deal

AI

The asset involved in the transaction is a condo located at 245 7th Avenue in Chelsea, Manhattan. The condo has a sale price of $3,193,000, with a total square footage of 5,442 and a price per square foot of $587.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $3,193,000
  • Address: 245 7th Avenue, Chelsea, Manhattan
  • Buyer: Mike M. Nassimi - Nassimi Realty
  • Seller: Steve Emerson - Dry Creek Capital Partners
  • Square Feet: 5,442
  • Price per Square Foot: $587

This transaction was carried out by Mike M. Nassimi, representing Nassimi Realty, who purchased the retail condo from seller Steve Emerson, who is affiliated with Dry Creek Capital Partners. The deal was closed on December 8, 2025.

Players

NR
Nassimi RealtyBuyer

New York Condo Market Snapshot

Boundary boundary · Condo · Sale transactions

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Deal FAQ

About $586 per square foot on a published $3.2M for 5,442 square feet (2025).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.97%

Cash-on-Cash

-1.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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