Updated Dec 6, 2025
Blue Sky Builders & David Goldberger Secure $15.5M Refinance Loan From Parke Bank For Development Site
786 Liberty Avenue
$15,500,000
$430/SF
Building Size
36,037 SF
Asset Type
Development Site
Closing
Oct 30, 2025
About this deal
AI
The property involved in this transaction is a development site located at 786 Liberty Avenue in East New York, Brooklyn. The asset consists of 36,037 square feet and is planned to accommodate 54 units. Blue Sky Builders and David Goldberger, through Liberty Apartments LLC, secured a refinance loan amounting to $15,500,000 for this new rental building project.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $15,500,000
- Address: 786 Liberty Avenue
- Market: East New York, Brooklyn
- Asset Size: 36,037 square feet
- Units: 54
- Lender: Parke Bank
- Landlord: Blue Sky Builders & David Goldberger
- Loan Type: Refinance
This transaction highlights key entities involved, specifically Blue Sky Builders and David Goldberger, who represent the landlords in this deal, indicating their active role in the renovation and development of rental units through Liberty Apartments LLC. The financing obtained underscores their commitment to enhancing the property’s potential in the Brooklyn market.
On the Map
$15,500,000
$430/SF
Development Site
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Players
Brooklyn Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.02%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93