Ritesh Kakkad Purchases Office In Manhattan From Israel Carmel For $3.2 Million
545 West 25th Street
$3,200,000
$811/SF
Building Size
3,945 SF
Asset Type
Office
Closing
Oct 26, 2025
About this deal
AI
The property involved in this transaction is an office located at 545 West 25th Street in Manhattan. The sale price for the asset was $3,200,000, and it encompasses a total square footage of 3,945, resulting in a price per square foot of $811.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $3,200,000
- Square Footage: 3,945
- Price Per Square Foot: $811
- Buyer: Ritesh Kakkad
- Seller: Israel Carmel
- Brokers: Richard Nassimi & Mona Foroutani
The transaction was facilitated by brokers Richard Nassimi and Mona Foroutani, representing both parties in the deal. This collaboration ensured that the buyer, Ritesh Kakkad, and the seller, Israel Carmel, reached a successful agreement regarding the office asset.
On the Map
$3,200,000
$811/SF
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
4.96%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93