Ritesh Kakkad Purchases Office In Manhattan From Israel Carmel For $3.2 Million
SOLD
$3,200,000
New York
See Similar DealsOffice3,945 SF
Sold 10/27/2025
SOLD
Ritesh Kakkad Purchases Office In Manhattan From Israel Carmel For $3.2 Million
545 West 25th Street
See Similar DealsOffice3,945 SF
Sold 10/27/2025
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$811
Total Square Footage:3,945 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$170,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,368.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,169.63
Annual Debt Service$182,035.59
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