Ouni Mamrout pays $33M Albert Monasebian, Nader Hakakian for office in Garment District

UPDATED 6:10 a.m., September 18, 2025: Ouni Mamrout through the entity 260 W 36 Property LLC paid $33 million to Albert Monasebian and Nader Hakakian’s 260 West 36 Realty LLC for the office building (O6) at 260 West 36th Street in Garment District, Manhattan.
The deal closed on December 19, 2022 and was recorded on January 4, 2023. The property has 81,375 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $405 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The seller bought the property on February 9, 2017, for $5 million.
The signatory for the buyer was Ouni Mamrout. The signatory for the seller was Albert Monasebian. Albert Monasebian and Nader Hakakian were both guarantors for the $23.5 million securitized loan that was assumed by Mamrout.
TradedNY reported the buyer was Meyer Equities, led by Eric Meyer.

Prior sales and revenue

The 81,375-square-foot property generated revenue of $3.4 million or $42 per square foot, according to the most recent income and expense figures.

The property

The parcel has frontage of 73 feet and is 98 feet deep with a total lot size of 7,266 square feet. The zoning is M1-6 which allows for up to 10 times floor area ratio (FAR) for manufacturing The city-designated market value for the property in 2022 is $13.2 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received one DOB violation and $1,050 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In Garment District, The majority, or 70 percent of the 52.2 million square feet of commercial built space are office buildings, with hotel buildings next occupying 12 percent of the space. In sales, Garment District has 2.5 times the average sales volume among other neighborhoods with $898.3 million in sales volume in the last two years and is the 17th highest in Manhattan. For development, Garment District has 1.9 times the average amount of major developments relative to other neighborhoods and is the 14th highest in Manhattan. It had 2 million square feet of commercial and multi-family construction under development in the last two years, which represents 4 percent of the neighborhood’s built space. There were two pre-foreclosure suit filed among other office buildings in the past 12 months.

The block

On this tax block, PincusCo has identified the owners of seven of the 18 commercial properties representing 644,374 square feet of the 1,612,007 square feet. The largest owner is Kaufman Organization, followed by Pi Capital Partners and then Shel Capital.
There are no active new building construction projects on this tax block.

The majority, or 96 percent of the 1.6 million square feet of built space are office buildings, with hotel buildings next occupying 3 percent of the space.

Correction: A prior version of this post stated Meyer Equities was a buyer alongside Ouni Mamrout, however loan documents indicate Meyer Equities is the contractually hired property manager, and does not name it as an owner.

Direct link to Acris document. link