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575 Bedford Avenue

Michael Silberberg Of Berkley Properties Acquires $7.5M Note From Blackstone For Williamsburg School Building
SOLDNote / Loan

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

Michael Silberberg

Buyer

$1B

vol

4 deals

Buyer
Blackstone
BlackstoneSeller

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