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Saima Chowdhury Of Noi Solutions Acquires Office Building From Richard Mack For $7M In Manhattan
SOLD
$7,000,000
New York
See Similar DealsOffice
Sold 09/19/2025
SOLD
Saima Chowdhury Of Noi Solutions Acquires Office Building From Richard Mack For $7M In Manhattan
1619 Broadway
See Similar DealsOffice
Sold 09/19/2025
Summary
NEW YORK
Asset Type:Office
Transaction Type:Sale
The asset involved in this transaction is an office property located at 1619 Broadway in Midtown West, Manhattan. The sale price of the property was $7,000,000, and it is intended for owner-occupancy by the buyer, Noi Solutions. The deal was finalized on September 19, 2025, following the signing of agreements in May.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $7,000,000
- Buyer: Saima Chowdhury - Noi Solutions
- Seller: Richard Mack - Mack Real Estate Group
- Market: Midtown West, Manhattan
Saima Chowdhury represents Noi Solutions, a sustainable apparel manufacturer, which used Nayaan LLC to facilitate the purchase of the property. Richard Mack represents Mack Real Estate Group as the seller in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$373,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,869.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,183.57
Annual Debt Service$398,202.85
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