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
About this deal
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].
On the Map
$2,975,000
$618/SF
Mixed-use
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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
5.33%
Cash-on-Cash
-1.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93