Derby Copeland Capital Provides $17M Recapitalization Loan In Greenwich Village Deal
1 Patchin Place, 2 Patchin Place, 3 Patchin Place, 4 Patchin Place, 5 Patchin Place, 6 Patchin Place, 7 Patchin Place, 8 Patchin Place new y, 9 Patchin Place, 10 Patchin Place & 113 West 10th Street
$17,000,000
$47/SF
Building Size
32,628 SF
Asset Type
Mixed-use
Closing
Feb 2, 2024
About this deal
AI
Located in Greenwich Village, the asset involved in the transaction consists of eleven mixed-use contiguous townhouse-style buildings at 1-10 Patchin Place and 113 West 10th Street, with a total square footage of 32,628. The loan amount secured for this mixed-use property was $17,000,000, and the lender for this recapitalization was Derby Copeland Capital.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $17,000,000
- Address: 1-10 Patchin Place & 113 West 10th Street
- Market: Greenwich Village
- Lender: Derby Copeland Capital
- Landlord: Firebird Grove
- Broker: Matthew Albano & Brad Fishbein - GCP Capital Group
Derby Copeland Capital, a New York City-based private equity firm specializing in real estate-related debt financing, closed the recapitalization loan for the property. The information provided by Derby Copeland Capital serves informational purposes and does not constitute an offer for specific securities or investments. It is highlighted that investing carries risks, including potential loss of principal capital.
On the Map
$17,000,000
$47/SF
Mixed-use
View full map
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
Loading comparables…
Deal FAQ
Visit Matthew (Matt) Albano to view all their deals.
Browse New York mixed use loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93