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785 Franklin Avenue

Eden Ashourzadeh Acquires Mixed-Use Property From Welch Family In Brooklyn For $2.5M
SOLDMixed-use

Eden Ashourzadeh Acquires Mixed-Use Property From Welch Family In Brooklyn For $2.5M

785 Franklin Avenue

$2,500,000

$416/SF

Building Size

6,000 SF

Asset Type

Mixed-use

Closing

Aug 18, 2025

AI

The property involved in this transaction is a mixed-use asset located at 785 Franklin Avenue in Brooklyn. The sale was finalized for a transaction amount of $2,500,000, comprising 4 units within a total square footage of 6,000 square feet, resulting in a price per unit of $625,000 and a price per square foot of $416.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $2,500,000
  • Units: 4
  • Square Footage: 6,000
  • Price per Unit: $625,000
  • Price per Square Foot: $416
  • Buyer: Eden Ashourzadeh
  • Seller: Welch Family
  • Broker: Sean Mashihi & Gabriel Kates - Block Real Estate Group
  • Attorney: Stephen S. Siminou - Siminou & Associates, P.C.

This transaction was facilitated by brokers Sean Mashihi and Gabriel Kates, representing the seller, Welch Family. The involvement of attorney Stephen S. Siminou from Siminou & Associates, P.C. highlights the legal support provided for the closure of this sale.

Players

Gabriel Kates
Verified Badge

Gabriel Kates

Block Real Estate Group

Broker

$158.4M

vol

59 deals

Broker
Block Real Estate Group
Block Real Estate GroupBrokerage

Eden Ashourzadeh

Buyer

$116.7M

vol

37 deals

Buyer

Brooklyn 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

6.35%

Cash-on-Cash

-1.81%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93