Omid Mashieh pays $2.9M for 3-family in Park Slope

Omid Mashieh through the entity Mtek 45 St. Marks LLC paid $2.9 million through an estate sale for the three-unit building (C0) at 45 Saint Marks Avenue in Park Slope, Brooklyn.
The deal closed on March 5, 2025 and was recorded on March 21, 2025. The property has 3,500 square feet of built space and 500 square feet of additional air rights for a total buildable of 4,000 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $814 and the price per buildable square foot is $712 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 Susan A. Pinto was Gabrielle Schaffner. The signatory for Omid Mashieh was Omid Mashieh. The contract date was December 10, 2024.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Omid Mashieh purchased two properties in two transactions for a total of $4.6 million and sold nine properties in nine transactions for a total of $22.4 million over the past 24 months.
The seller Susan A. Pinto had not purchased any other properties and had not sold any properties over the same time period.

The property

The 1-4 family building with 3 residential units in Park Slope has 3,500 square feet of built space and 500 square feet of additional air rights for a total buildable of 4,000 square feet according to a PincusCo analysis of city data. The parcel has frontage of 20 feet and is 100 feet deep with a total lot size of 2,000 square feet. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The property is in the Park Slope Historic District Extension II. The city-designated market value for the property in 2022 is $4.1 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 $300 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 block

On this tax block, PincusCo has identified the owners of 24 of the 42 commercial properties representing 116,037 square feet of the 215,111 square feet. The largest owner is Edward Ostad, followed by Michael Ostad and then Lina Fang.
There are no active new building construction projects on this tax block.

The majority, or 72 percent of the 215,111 square feet of built space are mixed-use buildings, with walkup buildings next occupying 28 percent of the space.

The buyer

The PincusCo database currently indicates that Omid Mashieh owned at least two commercial properties with seven residential units in New York City with 4,972 square feet and a city-determined market value of $2.6 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 56 percent of the 4,972 square feet of built space are C0 properties, with C3 properties next occupying 44 percent of the space. They are all located in Brooklyn.

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