CoFinance And Kings Capital Secure $23.5 Million Loan For Mixed-Use Property At 392-394 W Broadway

The property asset involved in this transaction is a mixed-use development located at 392-394 W Broadway in the SoHo market. The acquisition and construction loan amounts to $23,500,000.

Summary of transaction details:

• Property Type: Mixed Use
• Transaction Amount: $23,500,000
• Lender: Derby Copeland Capital
• Landlord: CoFinance – Alex Montebello & Dylan Shaban; Kings Capital – Leo Tebele, George Giannopoulos & Jeff Znaty
• Broker: Andrew Iadeluca - New Development Capital, LLC
• Loan Type: Acquisition & Construction

This transaction features prominent individuals and entities in the real estate development sector, with the landlord represented by a partnership of CoFinance and Kings Capital, showcasing significant collaboration among reputable figures in the industry.