Alon Ashourzadeh pays $1.9M for mixed-use in Williamsburg

Alon Ashourzadeh through the entity 197 Meserole LLC paid $1.9 million to the entity 197 Meserole Street Corp. for the five-unit mixed-use building (S5) at 197 Meserole Street in Williamsburg, Brooklyn. The expected use is cash flowing.
The deal closed on August 7, 2025 and was recorded on August 25, 2025. The property has 5,625 square feet of built space and 450 square feet of additional air rights for a total buildable of 6,075 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $337 and the price per buildable square foot is $312 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 August 26, 2008, for $990,000. The signatory for the seller was Milagros Espinal . The signatory for Alon Ashourzadeh was Alon Ashourzadeh. The contract date was July 22, 2024.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Alon Ashourzadeh purchased five properties in five transactions for a total of $13.1 million and sold three properties in three transactions for a total of $15.4 million over the past 24 months.
The seller Milagros Espinal had not purchased any other properties and had not sold any properties over the same time period. The former owner according to the Department of Housing Preservation and Development is Valentina Espinal, head officer. The business entity is 197 Meserole St Corp. The 5,625-square-foot property generated revenue of $138,825 or $25 per square foot, according to the most recent income and expense figures.

The property

The mixed-use building with 5 residential units in Williamsburg has 5,625 square feet of built space and 450 square feet of additional air rights for a total buildable of 6,075 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 100 feet deep with a total lot size of 2,500 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $1.3 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 $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 Williamsburg, The bulk, or 39 percent of the 50.4 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 25 percent of the space. In sales, Williamsburg has the 5th highest sale turnover among other neighborhoods in the city with $1.9 billion in sales volume in the last two years. For development, Williamsburg is the most active neighborhood among other neighborhoods. It had 41.7 million square feet of commercial and multi-family construction under development in the last two years, which represents 83 percent of the neighborhood’s built space. There was one pre-foreclosure suit filed among other mixed-use buildings in the past 12 months.

The block

On this tax block, PincusCo has identified the owners of 14 of the 19 commercial properties representing 118,261 square feet of the 140,616 square feet. The largest owner is Meir D. Tabak, followed by Jacob Rubin and then John Sismanoglou.
There are no active new building construction projects on this tax block.

The majority, or 87 percent of the 140,616 square feet of built space are walkup buildings, with mixed-use buildings next occupying 13 percent of the space.

The buyer

The PincusCo database currently indicates that Alon Ashourzadeh owned at least 18 commercial properties with 80 residential units in New York City with 101,490 square feet and a city-determined market value of $25.7 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 30 percent of the 101,490 square feet of built space are mixed-use properties, with walkup properties next occupying 18 percent of the space. The bulk, or 61 percent of the built space, is in Brooklyn, with Bronx next at 27 percent of the space.

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