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Derby Copeland Capital Closes $3.8M Acquisition Loan For Multifamily Building In Kips Bay

Property Image
FINANCED
$3,800,000

New York

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MultiFamily9,920 SF
Financed 12/22/2023
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Property Image
FINANCED

Derby Copeland Capital Closes $3.8M Acquisition Loan For Multifamily Building In Kips Bay

225 East 25th Street

See Similar Deals
MultiFamily9,920 SF
Financed 12/22/2023
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$383
Total Square Footage:9,920 SF
Transaction Type:Loan

A first-priority mortgage loan of $3,800,000 was closed by Derby Copeland Capital for the acquisition of a multifamily building located at 225 East 25th Street in Kips Bay, Manhattan. The property has a total square footage of 9,920 and consists of 20 units.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,800,000
  • Address: 225 East 25th Street
  • Market: Kips Bay, Manhattan
  • Square Footage: 9,920
  • Number of Units: 20

Derby Copeland Capital, a New York City-based private equity firm, served as the lender for this transaction. Lockhill Properties acted as the landlord. Derby Copeland Capital specializes in real estate-related debt financing and equity investments. Derby Copeland Management Group, LLC, a registered investment adviser, is associated with Derby Copeland Capital.

For any loan, preferred equity, and equity opportunities, you can contact Derby Copeland Capital at [email protected].

Players

Derby Copeland Capital
Derby Copeland Capital
LENDER
LP
Lockhill Properties
LANDLORD

Details

FINANCED
IMAGE: DATE: 12/22/2023 ADDRESS: 225 East 25th Street MARKET: Kips Bay, Manhattan ASSET TYPE: Multifamily ~ SF: 9,920 ~ UNITS: 20 LENDER: Derby Copeland Capital LANDLORD: Lockhill Properties LOAN AMOUNT: $3,800,000 LOAN TYPE: Acquisition NOTE FROM LENDER: Derby Copeland Capital closed the first-priority mortgage loan secured by the multifamily building located at 225 East 25th Street. Derby Copeland Capital is a New York City-based private equity firm that specializes in opportunistic real estate-related debt financing & equity investments. Derby Copeland Management Group, LLC is a registered investment adviser. 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. Please send any loan, preferred equity & equity opportunities to [email protected].

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$3,800,000.00

Monthly NOI$25,333.33
Monthly Debt Service$24,018.58
Change in Cash Flow$0.00
Refinance Proceeds$0.00