One block inland from Domino Park on Williamsburg's Northside, a clean 10,000-square-foot through-lot zoned M1-2/R6A is the kind of boutique development canvas that draws bids from every condo builder in Brooklyn. On September 9, 2026, 60 North 1st LLC closed on 60 North First Street for $15.6 million from AG Realty LLC, pricing the 30,000-buildable-square-foot Northside site at $520 per buildable foot. When the deed closed on September 9, 2026, 60 North 1st LLC had officially taken down 60 North First Street from AG Realty LLC for $15.6 million, with Brooklyn Land Advisory brokering the trade.
At $520 a square foot across 30,000 square feet, the trade establishes a clean clearing mark for Williamsburg mixed-use waterfront development site assets.
S3 Capital Supplies $13.3 Million at 85 Percent of Purchase Price
The real tell in any Brooklyn closing sits on the debt side of the ledger. To fund the purchase, 60 North 1st LLC locked in a $13.3 million senior land & pre-development bridge loan from S3 Capital (via S3 RE 60 N1 Funding LLC) at 85.3 percent loan-to-value.
That loan commitment meant the buyers only needed to write a $2.3 million equity check to control a 1-story, 2024-vintage Williamsburg asset. Credit committees aren't stretching to 75 percent leverage anymore, but when a sponsor brings $2.3 million of real cash equity and a basis of $520 a square foot, lenders like S3 Capital are wide open for business.
From Our Desk
When we look at 60 North First Street on our placement desk at Light Tower Group, the lesson for New York sponsors comes down to the marriage of entry basis and capital structure. 60 North 1st LLC didn't try to fight the tape—they bought Williamsburg footage at $520 a square foot and structured the stack to match the asset's timeline. Private bridge titan S3 Capital stepping up with $13.3 million on day one shows how deeply specialized NYC construction lenders trust prime North Williamsburg condo sellouts north of $2,200 a foot.