Derby Copeland Capital Closes Acquisition & Renovation Loan For Multifamily Building On 7th St

A multifamily building located at 566 7th Street in Park Slope, Brooklyn has been the subject of a closed transaction. The property spans 10,636 square feet and belongs to Conway Capital, with Abe Cohen acting as the landlord.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $5,850,000
• Address: 566 7th St.
• Market: Park Slope, Brooklyn
• Lender: Derby Copeland Capital

Derby Copeland Capital, a New York City-based private equity firm, served as the lender for the transaction. The company specializes in opportunistic real estate related debt financing and equity investments. Robert Tobias from RJT Capital Partners represented the buyer, Abe Cohen, on behalf of Conway Capital, in the deal.

Derby Copeland Capital provided a first-priority mortgage loan to finance the acquisition of the multifamily building at 566 7th Street. In addition to the acquisition, Derby Copeland will also finance the renovation proceeds for the full gut renovation of the property. For any loan, preferred equity, or equity opportunities, interested parties can reach out to Derby Copeland at [email protected].