Updated Mar 27, 2025
Arcus Development Secures $33 Million Construction Loan From Derby Copeland Capital For Development Site
220 East 9th Street
$33,000,000
Units
18
Asset Type
Development Site
Closing
Mar 14, 2025
About this deal
AI
The asset involved in this transaction is a development site located at 220 East 9th Street in New York City. The loan amount secured for this property is $33,000,000.00, categorized as a construction loan.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $33,000,000.00
- Lender: Derby Copeland Capital
- Landlord: Arcus Development
- Loan Date: 03/14/2025
Key individuals and companies associated with this deal include Derby Copeland Capital as the lender providing the construction loan, and Arcus Development as the landlord of the property. These entities play significant roles in the execution of this transaction.
On the Map
$33,000,000
Development Site
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Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.48%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93