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6-85 Woodward Avenue

Afshin Hedvat Purchases Mixed-Use Building At 6-85 Woodward Avenue For $1.2M With Scott Plasky & William Stephan As Brokers
SOLDMixed-use

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

William Stephan

Marcus & Millichap

Broker

$236.5M

vol

39 deals

Broker
Scott Plasky
Verified Badge

Scott Plasky

Marcus & Millichap

Broker

$411.1M

vol

80 deals

Broker

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

13.22%

Cash-on-Cash

-3.78%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93