Derby Copeland Capital Closes $3.25M Acquisition Loan For Mixed-Use Building In Hell's Kitchen
670 9th Avenue, New York City, New York 10011, United States
$3,250,000
$405/SF
Building Size
8,010 SF
Asset Type
Mixed-use
Closing
Feb 15, 2022
About this deal
AI
The first-priority mortgage loan for the mixed-use building located at 670 Ninth Avenue in Hell's Kitchen, Manhattan has been closed by Derby Copeland Capital. The property, which encompasses 8,010 square feet, consists of eight residential units, of which 75% are free market, and one retail unit.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $3,250,000
- Address: 670 Ninth Avenue, Hell's Kitchen, Manhattan
- Market: Hell's Kitchen, Manhattan
- Loan Type: Acquisition Loan
- Lender: Derby Copeland Capital
- Brokers: Shamir Seidman, Jonathan Kimiabakhsh & Daniel Neiss - Meridian Capital Group
- Date: 02/16/2022
Derby Copeland Capital, a New York City-based private equity firm specializing in opportunistic real estate related debt financing and equity investments, provided the financing for the transaction. For any loan, preferred equity, and equity opportunities, please contact [email protected].
On the Map
$3,250,000
$405/SF
Mixed-use
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New York Mixed-use Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.88%
Cash-on-Cash
-1.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93