Terra Developers Secures $25 Million Acquisition Loan From Derby Copeland For 500 Columbus Avenue
500 Columbus Avenue
$25,000,000
$709/SF
Building Size
35,258 SF
Asset Type
Mixed-use
Closing
Jul 29, 2026
About this deal
AI
The mixed-use property located at 500 Columbus Avenue in New York encompasses a square footage of 35,258. The acquisition loan for this asset was secured for a total of $25,000,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $25,000,000
- Lender: Derby Copeland
- Borrower: Terra Developers
- Landlord's Representative: Max Ralby, Holden Witkoff, Niv Shahmoon & Dante Distefano - Newmark
- Date: 07/29/2026
The transaction involved notable representatives from Newmark, specifically Max Ralby, Holden Witkoff, Niv Shahmoon, and Dante Distefano, who facilitated the deal on behalf of the landlord.
On the Map
$25,000,000
$709/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
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93