Derby Copeland Capital Closes $17M Acquisition & Renovation Loan For East Village Mixed-Use Property
135-139 Avenue a
$17,000,000
$509/SF
Building Size
33,376 SF
Asset Type
Mixed-use
Closing
Dec 20, 2023
About this deal
AI
Ryco Capital closed a first-priority mortgage loan and building loan for the mixed-use building located at 135-139 Avenue A in the East Village, Manhattan. The property has a total square footage of 33,376 and is a part of the mixed-use market in the area.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $17,000,000
- Address: 135-139 Avenue A
- Market: East Village, Manhattan
- Landlord: Ryco Capital
- Lender: Derby Copeland Capital
- Loan Type: Acquisition & Renovation Loan
Derby Copeland Capital, a New York City based private equity firm specializing in opportunistic real estate related debt financing, provided the loan for the property. The loan includes both an acquisition loan and financing for renovation proceeds. Derby Copeland Management Group, LLC, a registered investment adviser, facilitated the transaction. For more information, interested parties can contact Derby Copeland Capital at [email protected].
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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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