Updated Mar 11, 2025
King's Capital Secures $8.1 Million Acquisition Loan From Derby Copeland Capital In Hell's Kitchen
404 West 51st Street & 406 West 51st Street
$8,100,000
$261/SF
Building Size
15,520 SF
Asset Type
MultiFamily
Closing
Dec 27, 2024
About this deal
AI
The transaction involves a multifamily property located at 404 West 51st Street and 406 West 51st Street in the Hell's Kitchen market. The asset features a total square footage of 15,520 and is associated with a loan amount of $8,100,000, specifically designated for acquisition purposes.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $8,100,000
- Address: 404 West 51st Street & 406 West 51st Street
- Market: Hell's Kitchen
- Lender: Derby Copeland Capital
- Landlord: King's Capital
- Broker: Farrukh Hasanov & Farkhad Hasanov - F2H Capital Group
Derby Copeland Capital, a New York City-based private equity firm, executed the financing for this acquisition. The firm's expertise lies in opportunistic real estate-related debt financing and equity investments. The transaction reflects the involvement of key representatives who facilitated the process, including Farrukh Hasanov and Farkhad Hasanov, acting for F2H Capital Group as brokers in this deal.
On the Map
$8,100,000
$261/SF
MultiFamily
View full map
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Farrukh Hasanov to view all their deals.
Browse New York multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.96%
Cash-on-Cash
-0.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93