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393 2nd Avenue, Manhattan, ...

Derby Copeland Capital Provides $2.975M Loan For Mixed-Use Property On Second Avenue
FINANCEDMixed-use

Derby Copeland Capital Provides $2.975M Loan For Mixed-Use Property On Second Avenue

393 2nd Avenue, Manhattan, New York, NY, USA

$2,975,000

$618/SF

Building Size

4,810 SF

Asset Type

Mixed-use

Closing

Apr 21, 2021

AI

The property involved in the transaction is a mixed-use asset located at 393 Second Avenue in Gramercy, Manhattan. The loan was obtained from Derby Copeland Capital for a total amount of $2,975,000.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $2,975,000
  • Address: 393 Second Avenue
  • Market: Gramercy, Manhattan

Derby Copeland Capital, a New York City-based private equity firm specializing in opportunistic real estate related debt financing and equity investments, provided the loan. They are interested in opportunities related to mezzanine loans, construction loans, bridge loans, and preferred equity. For inquiries, contact [email protected].

Players

Jared Berkey

Marcus & Millichap

Broker

$21.9M

vol

3 deals

Broker
Joseph (Joe) Koicim
Verified Badge

Joseph Koicim

Marcus & Millichap

Broker

$2.7B

vol

174 deals

Broker

Derby Copeland Capital

Lender

$58.3M

vol

13 deals

Lender
BridgeCity Capital
BridgeCity CapitalLender

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

5.33%

Cash-on-Cash

-1.52%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93