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Mike M. Nassimi Of Nassimi Realty Purchases Condo From Steve Emerson For $3.2 Million
SOLD
$3,193,000
New York
See Similar DealsCondo5,442 SF
Sold 12/08/2025
SOLD
Mike M. Nassimi Of Nassimi Realty Purchases Condo From Steve Emerson For $3.2 Million
245 7th Avenue
See Similar DealsCondo5,442 SF
Sold 12/08/2025
Summary
NEW YORK
Asset Type:Condo
Price Per Square Foot:$586
Total Square Footage:5,442 SF
Transaction Type:Sale
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
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$170,293.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,344.07
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,136.45
Annual Debt Service$181,637.39
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