Afshin Hedvat Purchases Mixed-Use Building At 6-85 Woodward Avenue For $1.2M With Scott Plasky & William Stephan As Brokers
6-85 Woodward Avenue
$1,200,000
$428/SF
Building Size
2,800 SF
Asset Type
Mixed-use
Closing
Jul 28, 2026
AI
A mixed-use building located at 6-85 Woodward Avenue in Ridgewood was sold, comprising 2 residential units and 1 commercial unit. The transaction was closed for $1,200,000 with a price per unit of $400,000. The total square footage of the property is 2,800, leading to a price per square foot of $428. The retail space was delivered vacant at closing.
Summary of transaction details:
- Property Type: Mixed-use (2 Residential & 1 Commercial)
- Transaction Amount: $1,200,000
- Units: 3
- Price per Unit: $400,000
- Square Footage: 2,800
- Price per Square Foot: $428
- Buyer: Afshin Hedvat
- Seller: Joseph Asef
- Brokers: Scott Plasky & William Stephan - Marcus & Millichap
- Date of Sale: 07/28/2026
- Market: Ridgewood
Scott Plasky and William Stephan from Marcus & Millichap represented the transaction, facilitating the sale between the buyer, Afshin Hedvat, and the seller, Joseph Asef. The deal showcases the involvement of professionals in the real estate market and the dynamics within the Ridgewood area.
Players
Ridgewood Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
13.22%
Cash-on-Cash
-3.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93