Iconiq Capital pays $9M for parking lot in Williamsburg

Iconiq Capital , which manages assets for wealthy individuals such as Facebook founder Mark Zuckerberg through the entity Gotham Park, LLC paid $9 million to Stephanie Eisenberg through the entity 51 South 2nd Street Owner LLC for the parking lot (G7) with an approximate address of 51 South 2nd Street in Williamsburg, Brooklyn. The adjacent building at 49 South 2nd Street, owned by Solomon Markowitz and Lipa Markowitz, is the former headquarters of bankrupt publisher Vice.
The deal closed on August 21, 2025 and was recorded on September 5, 2025. The property has zero square feet of built space and 29,744 square feet of additional air rights for a total buildable of 29,744 square feet according to a PincusCo analysis of city data. The sale price per buildable square foot is $302 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 Stephanie Eisenberg was Stephanie Eisenberg. The contract date was July 25, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Iconiq Capital purchased one property in one transaction for a total of $9.2 million and has no record it sold any properties over the past 24 months.
The seller Stephanie Eisenberg had not purchased any other properties and had not sold any properties over the same time period.

The property

The parcel has frontage of 101 feet and is 147 feet deep with a total lot size of 14,872 square feet. The lot is irregular. The zoning is M3-1 which allows for up to 2 times floor area ratio (FAR) for manufacturing The city-designated market value for the property in 2022 is $1.1 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 not received any significant violations 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 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 5th 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 41.7 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 66,432 square feet of the 87,707 square feet. The largest owner is Cta Digital, followed by Lipa Markowitz and then Iconiq Capital.
There are no active new building construction projects on this tax block.

The majority, or 76 percent of the 87,707 square feet of built space are office buildings, with industrial buildings next occupying 21 percent of the space.

The seller

The PincusCo database currently indicates that Stephanie Eisenberg owned at least four commercial properties in New York City with 61,421 square feet and a city-determined market value of $4.4 million. (Market value is typically about 50% of actual value.) The portfolio has $16.5 million in debt, borrowed from Dalan Real Estate. Within the portfolio, the bulk, or 73 percent of the 61,421 square feet of built space are industrial properties, with F5 properties next occupying 27 percent of the space. They are all located in Brooklyn.

The buyer

The PincusCo database currently indicates that Iconiq Capital owned at least two commercial properties in New York City with 3,007 square feet and a city-determined market value of $3.8 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 100 percent of the 3,007 square feet of built space are retail properties, with industrial properties next occupying 0 percent of the space. They are all located in Manhattan.

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