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Derby Copeland Capital Provides $20 Million Recapitalization Loan For 57-59 Second Avenue In East Village

Property Image
FINANCED
$20,000,000
Michael Ianno
Aaron Appel

New York

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Mixed-use36,720 SF
Financed 06/30/2025
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Property Image
FINANCED

Derby Copeland Capital Provides $20 Million Recapitalization Loan For 57-59 Second Avenue In East Village

57 59 2nd Avenue

See Similar Deals
Mixed-use36,720 SF
Financed 06/30/2025
Michael Ianno
Aaron Appel
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$544
Total Square Footage:36,720 SF
Transaction Type:Loan

The asset involved in this transaction is a mixed-use property located at 57-59 2nd Avenue, covering a total square footage of 36,720. The transaction was facilitated through a recapitalization loan amounting to $20,000,000 in the East Village market.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $20,000,000
  • Lender: Derby Copeland Capital
  • Landlord: Icon Realty Management
  • Broker: Michael Ianno & Aaron Appel - Walker & Dunlop
  • Loan Type: Recapitalization

The transaction features key representatives from Derby Copeland Capital, which provided the recapitalization financing. Additionally, Michael Ianno and Aaron Appel from Walker & Dunlop played significant roles as brokers representing the parties involved in the deal.

Players

Aaron Appel
Walker & Dunlop
Aaron Appel
190 deals$31.9B volume
BROKER
Michael Ianno
Walker & Dunlop
Michael Ianno
51 deals$6B volume
BROKER
Icon Realty Management
Icon Realty Management
LANDLORD

Details

FINANCED
IMAGE: Aaron Appel & Michael Ianno DATE: 6/30/2025 ADDRESS: 57-59 2nd Avenue MARKET: East Village ASSET TYPE: Mixed-use ~ SF: 36,720 LENDER: Derby Copeland Capital LANDLORD: Icon Realty Management BROKER: Michael Ianno & Aaron Appel - Walker & Dunlop LOAN AMOUNT: $20,000,000 LOAN TYPE: Recapitalization NOTE FROM LENDER: Derby Copeland Capital closed a recapitalization loan for $20,000,000 at 57-59 Second Avenue in the East Village. Derby Copeland Management Group, LLC is a registered investment adviser, which such registration does not provide any expertise or skill. Information presented is for information purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$20,000,000.00

Monthly NOI$133,333.33
Monthly Debt Service$126,413.60
Change in Cash Flow$0.00
Refinance Proceeds$0.00