Michael Silberberg Of Berkley Properties Acquires $7.5M Note From Blackstone For Williamsburg School Building
575 Bedford Avenue
$7,500,000
Building Size
—
Asset Type
Note / Loan
Closing
Jan 9, 2026
AI
A $7.5 million note was sold secured by a 30,000-square-foot school building located at 575 Bedford Avenue in Williamsburg, Brooklyn. The transaction occurred on January 9, 2026.
Summary of transaction details:
- Property Type: Note / Loan
- Transaction Amount: $7,500,000
- Buyer: Michael Silberberg - Berkley Properties
- Seller: Blackstone
- Market: Williamsburg, Brooklyn
Michael Silberberg, through an affiliate named Quince Realty Holding, acquired the note from Blackstone Group following a foreclosure action that was initiated by the lender in January 2025.
Players
Brooklyn Note / Loan Market Snapshot
Boundary boundary · Note / Loan · Sale transactions
Loading comparables…
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