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51 South 2nd Street

Updated Sep 9, 2025

Eisenberg Family Sells Development Site At 51 South 2nd Street Brooklyn For $9 Million
SOLDDevelopment Site

Eisenberg Family Sells Development Site At 51 South 2nd Street Brooklyn For $9 Million

51 South 2nd Street

$9,000,000

$302/SF

Building Size

29,744 SF

Asset Type

Development Site

Closing

Aug 20, 2025

About this deal

AI

The property involved in the transaction is a development site located at 51 South 2nd Street in Brooklyn. The site was sold by The Eisenberg Family for a sale price of $9,000,000. The building site has an area of 29,744 square feet, translating to a price per building square foot of $302.

Summary of transaction details:

The deal was represented by brokers Ethan Stanton, Brendan Maddigan, and Michael Mazzara from JLL. Their involvement facilitated the transaction between the seller and the buyer, ensuring the details were managed effectively throughout the process.

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$9,000,000

$302/SF

Development Site

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Players

Brendan Maddigan

JLL

Broker

$5B

vol

135 deals

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Brooklyn Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Deal FAQ

About $302 per square foot on a published $9M for 29,744 square feet (2025).

Visit Ethan Stanton to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.76%

Cash-on-Cash

-0.50%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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