Updated Aug 28, 2026
Minerva Development Purchases Multifamily Asset At 554 2nd Street For $3,900,000
554 2nd Street
$3,900,000
$1,065/SF
Building Size
3,660 SF
Asset Type
Single Family Residence
Closing
Aug 14, 2026
About this deal
AI
The asset involved in the transaction is a multifamily property located at 554 2nd Street in the Park Slope market. The sale price was $3,900,000, with a total square footage of 3,660 and a price per square foot of $1,065.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,900,000
- Address: 554 2nd Street
- Market: Park Slope
- Square Footage: 3,660
- Price per Square Foot: $1,065
The buyers of the property are Minerva Development, represented by Nadia Bartolucci from Douglas Elliman and Asaf Ringlheim from Minerva Development. The seller's representative for this transaction was Elaine Gay from Townsley & Gay & LLC.
On the Map
$3,900,000
$1,065/SF
Single Family Residence
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Players
Brooklyn Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Deal FAQ
About $1.1K per square foot on a published $3.9M for 3,660 square feet (2026).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.07%
Cash-on-Cash
-1.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93