Updated Oct 12, 2026
Isaac And Benjamin Silberstein Secure $7.5M Construction Loan For Development Site In Crown Heights
258 Empire Boulevard
$7,500,000
Building Size
—
Asset Type
Development Site
Closing
Jul 15, 2026
About this deal
AI
The asset involved in this transaction is a development site located at 258 Empire Boulevard in Crown Heights, Brooklyn. The property encompasses a building square footage (BSF) of 16,649. A construction loan was secured for this development endeavor.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $7,500,000
- Lender: Conventus
- Landlord: Isaac Silberstein & Benjamin Silberstein
- Loan Type: Construction
Isaac and Benjamin Silberstein's company, Empire Blvd LLC, executed this loan transaction, obtaining the funds specifically for construction purposes related to the development site at the stated address.
On the Map
$7,500,000
Development Site
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Players
Harding Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93