Derby Copeland Capital Provides $5.94M Mezzanine Loan For Mixed-Use Properties In Greenwich Village & Upper West Side

The recently closed transaction involves a mixed-use property located in Greenwich Village and the Upper West Side. The property, with a total square footage of 89,176, is comprised of three addresses: 30, 40, and 60 East 9th Street, along with 260 West 87th Street.

Summary of transation details

• Property Type: Mixed-use
• Transaction Amount: $5,940,000
• Loan Type: Mezzanine Loan

The lender, Derby Copeland Capital, provided a mezzanine loan of $5,940,000 for this transaction. Morris Betesh and Jack Mcphail from Meridian Capital Group represented the borrower as brokers in the deal.

It is worth noting that the loan was structured as two separate mezzanine loans issued to the same borrower. The first loan amounting to $3,240,000 was assigned to the 54,376 square foot garage located at 30, 40, and 60 East 9th Street. This loan stood behind Signature's first priority mortgage loan of $10,500,000. The second loan, valued at $2,700,000, was provided for the 34,800 square foot garage at 260 West 87th Street, standing behind Signature's $8,700,000 first priority mortgage loan.

Derby Copeland Capital, a New York City based private equity firm specialized in real estate-related debt financing and equity investments, facilitated this transaction. For loan, preferred equity, and equity opportunities, they can be reached at [email protected].