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Nick Parekh Of Aneri Jewels Purchases Midtown West Office For $6.75M From Richard Mack
SOLD
$6,750,000
New York
See Similar DealsOffice12,295 SF
Sold 09/04/2025
SOLD
Nick Parekh Of Aneri Jewels Purchases Midtown West Office For $6.75M From Richard Mack
1619 Broadway
See Similar DealsOffice12,295 SF
Sold 09/04/2025
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$549
Total Square Footage:12,295 SF
Transaction Type:Sale
A 12,295-square-foot office condo located at 1619 Broadway in Midtown West was sold for $6.75 million. The property is situated in a prominent market area in Manhattan, with a price per square foot of approximately $549.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $6,750,000
- Square Footage: 12,295
- Address: 1619 Broadway
- Market: Midtown West, Manhattan
- Buyer: Nick Parekh - Aneri Jewels
- Seller: Richard Mack - Mack Real Estate Group
Nick Parekh represented Aneri Jewels in the acquisition of the office space, while Richard Mack represented Mack Real Estate Group in the sale. This transaction marks a significant business move for Aneri Jewels within the office market in Manhattan.
Players
BUYER
SELLER
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$360,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,981.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,998.44
Annual Debt Service$383,981.32
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