Eden, Alon Ashourzadeh pay $2.1M for 10-unit dev site in Williamsburg

Eden and Alon Ashourzadeh through the entity 126 Manhattan LLC paid $2.1 million to Bryan Ortiz through the entity M-126 Inc for the industrial building (G7) at 126 Manhattan Avenue in Williamsburg, Brooklyn. The expected use is ground up development.

There is a new building project, B01075572, for a 10-unit, 7,500 square-foot residential (R-2) building submitted by Alon Ashourzadeh with plans filed July 17, 2024 and it has not been permitted yet.

To finance the sale and construction, the Ashourzadehs borrowed $5.5 million from Hakimian Partners
The sale closed on December 18, 2025 and was recorded on January 8, 2026. The property has zero square feet of built space and 6,075 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 buildable square foot is $345 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 signatory for Bryan Ortiz was Bryan Ortiz. The signatory for Alon and Eden Ashourzadeh was Stephen Siminou . The contract date was November 21, 2023.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Eden Ashourzadeh purchased five properties in five transactions for a total of $13.2 million and sold two properties in two transactions for a total of $10.1 million over the past 24 months.
The seller Bryan Ortiz had not purchased any other properties and had not sold any properties over the same time period.

The property

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 $456,000.

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 not received any significant violations in the last year.

Development

On the lot, there are two active new building construction projects and major alteration projects with initial costs more than $5 million, totaling 15,000 square feet. The largest, 321300659, is a new building project for a 10-unit, 7,500 square-foot R-2 building submitted by Salvador Ortiz with plans filed January 26, 2016 and it has not been permitted yet. T

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 6th 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 42.1 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.

The block

On this tax block, PincusCo has identified the owners of three of the six commercial properties representing 104,230 square feet of the 110,574 square feet. The largest owner is Catholic Charities Progress Of Peoples Development Corp., followed by Martin Stein and then Wolfe Landau.
On the tax block, there were two new building construction projects totaling 15,000 square feet. The largest is a 10-unit, 7,500 square-foot residential (R-2) building submitted by Alon Ashourzadeh and filed by Alon Ashourzadeh with plans filed July 17, 2024 and it has not been permitted yet. The second largest is a 10-unit, 7,500 square-foot residential (R-2) building submitted by Salvador Ortiz with plans filed January 26, 2016 and it has not been permitted yet.

The majority, or 88 percent of the 110,574 square feet of built space are elevator buildings, with walkup buildings next occupying 9 percent of the space.

The buyer

The PincusCo database currently indicates that Eden Ashourzadeh owned at least 13 commercial properties with 66 residential units in New York City with 59,688 square feet and a city-determined market value of $15.8 million. (Market value is typically about 50% of actual value.) The portfolio has $11.3 million in debt, borrowed from Customers Bank and Hakimian Capital. Within the portfolio, the bulk, or 56 percent of the 59,688 square feet of built space are walkup properties, with mixed-use properties next occupying 29 percent of the space. They are all located in Brooklyn.

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