Updated Jan 9, 2026
Kings Capital Secures $21.5 Million Refinance Loan From Derby Copeland Capital For Hell's Kitchen Multifamily
359 West 48th Street
$21,500,000
$599/SF
Building Size
35,840 SF
Asset Type
MultiFamily
Closing
Dec 22, 2025
About this deal
AI
The property asset involved is a multifamily building located at 359 West 48th Street in the Hell's Kitchen market. This asset encompasses a total of 35,840 square feet and has secured a refinance loan amounting to $21,500,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $21,500,000
- Loan Type: Refinance
- Lender: Derby Copeland Capital
- Landlord: Kings Capital
Key individuals in this transaction include Derby Copeland Capital, which is a private equity firm based in New York City specializing in opportunistic real estate-related debt financing and equity investments. The firm executed the recapitalization loan for this property. Derby Copeland Management Group, LLC is also associated with the lender as a registered investment adviser.
Players
New York 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
0.74%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93