Hershy Silberstein pays $3M for mixed-use in Greenpoint, through bankruptcy

Hershy Silberstein through the entity 729 Meeker LLC paid $3 million in a bankruptcy sale for the six-unit mixed-use building (S9) at 731 Meeker Avenue in Greenpoint, Brooklyn. The expected use is cash flowing.
The deal closed on February 26, 2026 and was recorded on April 24, 2026. The property has 16,529 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $181 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 seller bought the property on October 27, 2014, for $1.8 million. The signatory for Mendel Gold was Mendel Gold. The signatory for Hershy Silberstein was Hershy Silberstein. The contract date was December 15, 2025. The sale was conducted as part of the bankruptcy Mendel Gold filed in the Eastern District of New York in 2024 for the property under file number 24-42846.

Prior sales, articles and revenue

Prior to this transaction, the seller Mendel Gold had not purchased any other properties and sold six properties in five transactions for a total of $16 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes Barton Schwartz, head officer and Mark Park, site manager. The business entities are Nyc Mgmt Llc and Barton Schwartz As Receiver. The 16,529-square-foot property generated revenue of $445,457 or $27 per square foot, according to the most recent income and expense figures.

The property

The mixed-use building with 6 residential units in Greenpoint has 16,529 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 53 feet and is 108 feet deep with a total lot size of 5,845 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $3.6 million.

Violations and lawsuits

The property was involved in zero lawsuits and one bankruptcy over the past two years. The bankruptcy was filed on July 9, 2024, by Mendel Gold citing assets of $3.6 million. In addition, according to city public data, the property has received 26 housing violations in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In Greenpoint, The bulk, or 29 percent of the 23.8 million square feet of commercial built space are walkup buildings, with industrial buildings next occupying 26 percent of the space. In sales, Greenpoint has 2.6 times the average sales volume among other neighborhoods with $914.3 million in sales volume in the last two years and is the 4th highest in Brooklyn. For development, Greenpoint has 1.9 times the average amount of major developments relative to other neighborhoods and is the 4th highest in Brooklyn. It had 3.1 million square feet of commercial and multi-family construction under development in the last two years, which represents 13 percent of the neighborhood’s built space. There were 70 pre-foreclosure suit filed among other mixed-use buildings in the past 12 months.

The block

On this tax block, PincusCo has identified the owners of 17 of the 20 commercial properties representing 127,220 square feet of the 134,666 square feet. The largest owner is St. Nicks Alliance, followed by Greenbrook Partners and then Mendel Gold.
There are no active new building construction projects on this tax block.

The majority, or 69 percent of the 134,666 square feet of built space are walkup buildings, with mixed-use buildings next occupying 31 percent of the space.

The seller

The PincusCo database currently indicates that Mendel Gold owned at least 13 commercial properties with 103 residential units in New York City with 106,949 square feet and a PincusCo-determined asset value of $44.3 million. The portfolio has $7.8 million in debt, borrowed from Arbor Realty Trust. Within the portfolio, the bulk, or 52 percent of the 106,949 square feet of built space are walkup properties, with mixed-use properties next occupying 27 percent of the space.

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