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Subhash Makhija Of GEP Acquires Office Condo In Hudson Square For $6.5M From Ascot Properties NYC
SOLD
$6,500,000
New York
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Sold
SOLD
Subhash Makhija Of GEP Acquires Office Condo In Hudson Square For $6.5M From Ascot Properties NYC
121 Varick Street
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Sold
Summary
NEW YORK
Asset Type:Office
Transaction Type:Sale
The asset involved in the transaction is a third-floor office condo located at 121 Varick Street in Hudson Square, Manhattan. The property was sold for $6,500,000, reflecting the market value of the area. The sale was recorded in February 2026.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $6,500,000
- Buyer: Subhash Makhija
- Buyer's Company: GEP
- Seller: Ascot Properties NYC
In this transaction, Subhash Makhija, through an affiliated entity, represented the buyer’s interests in acquiring the property from Ascot Properties NYC. The deal highlights the involvement of established entities within the real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$346,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,093.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,813.32
Annual Debt Service$369,759.79
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