Subhash Makhija Of GEP Acquires Office Condo In Hudson Square For $6.5M From Ascot Properties NYC
121 Varick Street
$6,500,000
Building Size
—
Asset Type
Office
Closing
Feb 25, 2026
About this deal
AI
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.
On the Map
$6,500,000
Office
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Players
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93