Blue Sky Builders, David Goldberger sign $15.5M refi with Parke Bank for development in East New York

Blue Sky Builders and David Goldberger through the entity Liberty Apartments LLC as borrower signed a refi loan with lender Parke Bank valued at $15.5 million for the 54-unit, new construction rental building at 786 Liberty Avenue in East New York, Brooklyn.

On the lot, there is one active new building construction project, B00670629, for a 54-unit, 36,037 square-foot residential (R-2) building. The project was submitted by Salvatore Mendolia with plans filed January 31, 2022 and permitted October 28, 2024. The property was also known as 790 Liberty Avenue.
The deal closed on October 30, 2025 and was recorded on November 13, 2025. The prior lender was IceCap Group which held debt that had an original loan amount of $13.6 million.

The property has 36,037 square feet of built space, according to a PincusCo analysis of city data. The loan price per built square foot is $430 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Blue Sky Builders and David Goldberger was Hershy Silberstein and David Goldberger. The signatory for Parke Bank was Renee L. D’Orazio .

Prior sales and revenue

The owners according to the Department of Housing Preservation and Development includes Hershy Silberstein, head officer and Yoel Schwartz, agent. The business entity is Liberty Apartments LLC.

The property

The parcel has frontage of 125 feet and is 90 feet deep with a total lot size of 6,250 square feet. The lot is irregular. The zoning is R6A which allows for up to 3 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $119,000.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $1,250 in ECB penalties and $1,250 in OATH penalties in the last year.

The neighborhood

In East New York, The bulk, or 40 percent of the 44.6 million square feet of commercial built space are elevator buildings, with industrial buildings next occupying 21 percent of the space. In sales, East New York has 1.3 times the average sales volume among other neighborhoods with $382.7 million in sales volume in the last two years and is the 19th highest in Brooklyn. For development, East New York has 3.1 times the average amount of major developments relative to other neighborhoods and is the 2nd highest in Brooklyn. It had 4.6 million square feet of commercial and multi-family construction under development in the last two years, which represents 10 percent of the neighborhood’s built space. There was one pre-foreclosure suit filed among other development buildings in the past 12 months.

The block

On this tax block, PincusCo has identified the owners of five of the 14 commercial properties representing 4,008 square feet of the 34,863 square feet. The largest owner is Spatial Equity Co., followed by Housingplus and then Hershy Silberstein.
On the tax block, there were five new building construction projects totaling 127,685 square feet. The largest is a 123-unit, 73,096 square-foot residential (R-2) building submitted by William Lattarulo with plans filed November 15, 2021 and permitted December 11, 2023. The second largest is a 26-unit, 17,318 square-foot residential (R-2) building submitted by Einav Gelberg with plans filed August 27, 2020 and it has not been permitted yet.

The majority, or 77 percent of the 34,863 square feet of built space are industrial buildings, with mixed-use buildings next occupying 18 percent of the space.

The borrower

The PincusCo database currently indicates that Blue Sky Builders owned at least two commercial properties with 100 residential units in New York City with 0.0 square feet and a city-determined market value of $306,000. (Market value is typically about 50% of actual value.) The portfolio has $34 million in debt, borrowed from Wells Fargo. Within the portfolio, the bulk, or 0 percent of the 0.0 square feet of built space are industrial properties, with specialty properties next occupying 0 percent of the space.
The PincusCo database currently indicates that Duvid Goldberger owned at least one commercial property in New York City with 0.0 square feet and a city-determined market value of $113,000. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single specialty property.

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