Press Releases
Marcus & Millichap Arranges Sale of Multifamily Redevelopment Opportunity in Greenpoint
November 11, 2026
NEW YORK, Nov. 11, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 321 Eckford St., a multifamily property in Brooklyn's Greenpoint neighborhood. The asset sold for $2,325,000.
"The sale of 321 Eckford Street is a testament to the strength of land values in North Brooklyn," said Mike Salvatico of Marcus & Millichap's New York City office. "$505 per-buildable-square-foot is a current record price per-square-foot for the Greenpoint neighborhood. Each site we bring to market in the neighborhood continues to set a new pricing bar given the competitive bidding environment for these assets."
Salvatico, Shaun Riney, Jesse Baum and Harrison Rich of Marcus & Millichap exclusively marketed the property on behalf of the seller, a private family, and procured the buyer, a local developer.
The property is a 2,300-square-foot development site zoned R6B, C2-4. It includes an existing 1,472-square-foot building with 3,128 square feet of available air rights. The 4,600 square feet of buildable area can be expanded to 5,561 square feet with the use of the inclusionary housing bonus.
Nearby is Greenpoint Landing, a waterfront master-planned development of more than 5,000 units, and within walking distance to McCarren Park, Transmitter Park, the G train, and the East River Ferry.
"The sale of 321 Eckford Street is a testament to the strength of land values in North Brooklyn," said Mike Salvatico of Marcus & Millichap's New York City office. "$505 per-buildable-square-foot is a current record price per-square-foot for the Greenpoint neighborhood. Each site we bring to market in the neighborhood continues to set a new pricing bar given the competitive bidding environment for these assets."
Salvatico, Shaun Riney, Jesse Baum and Harrison Rich of Marcus & Millichap exclusively marketed the property on behalf of the seller, a private family, and procured the buyer, a local developer.
The property is a 2,300-square-foot development site zoned R6B, C2-4. It includes an existing 1,472-square-foot building with 3,128 square feet of available air rights. The 4,600 square feet of buildable area can be expanded to 5,561 square feet with the use of the inclusionary housing bonus.
Nearby is Greenpoint Landing, a waterfront master-planned development of more than 5,000 units, and within walking distance to McCarren Park, Transmitter Park, the G train, and the East River Ferry.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
