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
New York Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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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