Isaac Silberstein pays $2M through bankruptcy for 6-unit walkup in Bushwick

Isaac Silberstein through the entity HS Troutman LLC paid $2 million for the six-unit residential walkup building (C2) at 169 Troutman Street in Bushwick, Brooklyn. The expected use is cash flowing. The former owner, Mendel Gold turned over the property through US Bankruptcy Court Eastern District of New York case 24-42846.
The deal closed on February 26, 2026 and was recorded on March 23, 2026. The property has 3,750 square feet of built space and 2,325 square feet of additional air rights for a total buildable of 6,075 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $533 and the price per buildable square foot is $329 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 Mendel Gold was Mendel Gold. The signatory for Isaac Silberstein was Isaac Silberstein. The contract date was December 15, 2026.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Isaac Silberstein had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Mendel Gold had not purchased any other properties and sold four properties in three transactions for a total of $8.2 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 New York City Management Llc and Barton Schwartz As Receiver.

The property

The residential walkup building with 6 residential units in Bushwick has 3,750 square feet of built space and 2,325 square feet of additional air rights for a total buildable of 6,075 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 100 feet deep with a total lot size of 2,500 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 $1.1 million.

Violations and lawsuits

The property was involved in zero lawsuits and one bankruptcy over the past two years. The bankruptcy was filed on March 28, 2025, by Mendel Gold citing assets of $21 million. In addition, according to city public data, the property has received five housing violations and $6,230 in OATH penalties 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 block

On this tax block, PincusCo has identified the owners of 21 of the 35 commercial properties representing 96,765 square feet of the 152,190 square feet. The largest owner is Graph Group, followed by Leopold Kaufman and then Riseboro Community Partnership.
On the tax block, there was one new building construction project filed totaling 5,446 square feet. It is a seven-unit, 5,446 square-foot residential (R-2) building submitted by Nayda Casanova with plans filed April 19, 2019 and permitted July 13, 2020.

The majority, or 86 percent of the 152,190 square feet of built space are walkup buildings, with mixed-use buildings next occupying 13 percent of the space.

The seller

The PincusCo database currently indicates that Mendel Gold owned at least 16 commercial properties with 122 residential units in New York City with 129,532 square feet and a city-determined market value of $24.8 million. (Market value is typically about 50% of actual value.) The portfolio has $7.8 million in debt, borrowed from Arbor Realty Trust. Within the portfolio, the bulk, or 55 percent of the 129,532 square feet of built space are walkup properties, with mixed-use properties next occupying 29 percent of the space. They are all located in Brooklyn.

The buyer

The PincusCo database currently indicates that Isaac Silberstein owned at least two commercial properties with nine residential units in New York City with 9,750 square feet and a city-determined market value of $1.4 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 50 percent of the 9,750 square feet of built space are mixed-use properties, with walkup properties next occupying 50 percent of the space. The bulk, or 50 percent of the built space, is in Brooklyn, with Queens next at 50 percent of the space.

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