His firm David Halberstadt (founded 1834) established a steam mill in Christianshavn in Copenhagen in 1857 and later developed into the largest wholesaler of hides, fur, leather and wool in the Nordic countries.

[1] After completing his apprenticeship, Halberstadt initially worked for Hartvig Philip Rée in Randers before moving to Copenhagen where he was employed by J. Levysohn.

The firm started out as a modest grain business but grew rapidly over the course of the next few years and was able to purchase H. Puggaard & Co.'s property in Christianshavn in 1857, where they established a large steam mill.

Christianshavn Steam Mill (Lille Torvegade 2) was later owned in a partnership with Isaac Wulff Heyman and Meyer Herman Bing.

[1] A few years prior to Halberstadt's death, the steam mill in Christianshavn was sold to De Forenede Dampmøller.