Zhen Yang Purchases Mixed-Use Property At 575 Woodward Avenue Ridgewood For $1.46M From Fortez Group
575 Woodward Avenue
$1,460,000
$422/SF
Building Size
3,460 SF
Asset Type
Mixed-use
Closing
Apr 1, 2026
About this deal
AI
The asset involved in this transaction is a mixed-use property located at 575 Woodward Avenue in the Ridgewood market. The sale concluded at a price of $1,460,000 for a total square footage of 3,460, resulting in a price per square foot of $421.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,460,000
- Square Footage: 3,460
- Price per Square Foot: $421
- Buyer: Zhen Yang
- Seller: Fortez Group
- Seller's Representative: Stephen R. Preuss Sr., Kevin Schmitz, Andreas Efthymiou & Kevin Louie - Ripco
This transaction involved notable individuals such as the buyer Zhen Yang and the seller represented by a team from Ripco, including Stephen R. Preuss Sr., Kevin Schmitz, Andreas Efthymiou, and Kevin Louie. Their professional representation was integral to the completion of this property sale.
Players
Ridgewood Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.87%
Cash-on-Cash
-3.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93