Stephanie Eisenberg, Steven Carter, sign $18M refi with T30 Capital in Williamsburg

UPDATED 8:43 a.m., April 11, 2025: Stephanie Eisenberg, Steven Carter and other partners through the entity 72 North 15th Street Owner LLC as borrower signed a refi loan with lender T30 Capital through the entity Forthill North 15th Street Holder, LLC valued at $18 million for four properties including the industrial building (F5) at 72 North 15th Street in Williamsburg, Brooklyn and three other properties.
The deal closed on April 3, 2025 and was recorded on April 10, 2025.

The prior lender was Dalan Real Estate which held debt that had an original loan amount of $16.5 million.

The four properties have 45,000 square feet of built space and 27,806 square feet of additional air rights for a total buildable of 55,612 square feet according to a PincusCo analysis of city data. The loan price per built square foot is $400 and the price per buildable square foot is $323 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 Steven E. Carter. The signatory for T30 Capital was Margaret Grossman .

Prior sales and revenue

Out of the four properties, one with a total of 45,000 square feet of built space generated revenue of $643,415 per year.

The property

The industrial building in Williamsburg has 45,000 square feet of built space and 27,806 square feet of additional air rights for a total buildable of 55,612 square feet according to a PincusCo analysis of city data. The parcel has frontage of 100 feet and is 278 feet deep with a total lot size of 27,806 square feet. The lot is irregular. The zoning is M1-2 which allows for up to 2 times floor area ratio (FAR) for manufacturing The city-designated market value for the property in 2022 is $4.4 million. The most recent loan totaled $16.5 million and was provided by Dalan Real Estate on March 1, 2024.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have received $3,230 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 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 4th highest sale turnover among other neighborhoods in the city with $2 billion in sales volume in the last two years. For development, Williamsburg has 2.6 times the average amount of major developments relative to other neighborhoods and is the 3rd highest in Brooklyn. It had 3 million square feet of commercial and multi-family construction under development in the last two years, which represents 6 percent of the neighborhood’s built space.

The block

On the tax block of 72 North 15th Street, PincusCo has identified the owners of three of the three commercial properties representing 84,538 square feet of the 84,538 square feet. The largest owner is Epr Properties, followed by Stephanie Eisenberg and then Joyland Group.
There are no active new building construction projects on this tax block.

The majority, or 59 percent of the 84,538 square feet of built space are industrial buildings, with mixed-use buildings next occupying 41 percent of the space.

The borrower

The PincusCo database currently indicates that Stephanie Eisenberg owned at least one commercial property in New York City with 45,000 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. The portfolio consists of at least a single industrial property. It is located in Brooklyn.

Correction: An earlier version of this post incorrectly identified a borrower as DLJ Real Estate Capital Partners, but that company is not involved in this transaction. 

Direct link to Acris document. link