Derby Copeland Capital Closes Acquisition Loan For $7.1 Million On Upper West Side Condos
345 West 71st Street, 347 West 71st Street & 349 West 71st Street
$7,100,000
Building Size
—
Asset Type
Condo
Closing
Jul 20, 2026
AI
The transaction involves an acquisition loan for three condo properties located at 345 West 71st Street, 347 West 71st Street, and 349 West 71st Street in the Upper West Side market. The total loan amount secured is $7,100,000. This closing represents the second tranche of an aggregate loan as part of an assemblage across the specified properties, indicating a strategic investment approach to real estate in this area.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $7,100,000
- Lender: Derby Copeland Capital
- Market: Upper West Side
- Brokers: Michael Helmreich & Jake Gluck - Fortune Capital Group
- Loan Type: Acquisition
Derby Copeland Capital, the lender, is a New York City-based private equity firm focusing on opportunistic real estate-related debt financing and equity investments. The loan transaction was facilitated by brokers Michael Helmreich and Jake Gluck from Fortune Capital Group, who played a crucial role in representing the interests associated with this deal.
Players
New York Condo Market Snapshot
Boundary boundary · Condo · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.23%
Cash-on-Cash
-0.64%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93