Derby Copeland Capital Refinances Multi-Family Property For Joseph Ausch In Crown Heights For $6.875M
195 Sullivan Place
$6,875,000
$362/SF
Building Size
18,994 SF
Asset Type
MultiFamily
Closing
Dec 9, 2024
AI
A refinance loan of $6,875,000 was closed by Derby Copeland Capital for a multi-family property located at 195 Sullivan Place in the Crown Heights neighborhood of Brooklyn, with a total square footage of 18,994.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $6,875,000
- Address: 195 Sullivan Place
- Market: Crown Heights
- Lender: Derby Copeland Capital
- Landlord: Joseph Ausch
- Loan Type: Refinance
Derby Copeland Capital is a private equity firm based in New York City that specializes in opportunistic real estate-related debt financing and equity investments. Derby Copeland Management Group, LLC operates as a registered investment adviser.
Players
Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.31%
Cash-on-Cash
-0.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93