Updated Sep 9, 2025
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:
- Property Type: Development Site
- Transaction Amount: $9,000,000
- Address: 51 South 2nd Street
- Market: Brooklyn
- Building Square Footage: 29,744
- Price per Building Square Foot: $302
- Seller: The Eisenberg Family
- Brokers: Ethan Stanton, Brendan Maddigan & Michael Mazzara - JLL
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.
On the Map
$9,000,000
$302/SF
Development Site
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Players
Brooklyn Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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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