Updated Mar 11, 2025
Derby Copeland Capital Provides $3.675M Acquisition Loan For 408 West 46th Street Multifamily
408 West 46th Street
$3,675,000
$593/SF
Building Size
6,190 SF
Asset Type
MultiFamily
Closing
Oct 1, 2021
About this deal
AI
The property in question is located at 408 West 46th Street in the Hell's Kitchen area. It is a multifamily asset with a total square footage of 6,190. The property consists of 5 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,675,000
- Address: 408 West 46th Street
- Market: Hell's Kitchen
- Square Footage: 6,190
- Number of Units: 5
The lender for this transaction is Derby Copeland Capital, represented by Daniel Kaufman. They provided an acquisition loan amounting to $3,675,000. The borrowers, Alex Rabin & David Gomez, represented by Peak Capital Advisors, plan to utilize the remaining loan balance for construction purposes.
Derby Copeland Capital is a New York City based private equity firm specializing in opportunistic real estate related debt financing and equity investments. For any loan and preferred equity opportunities, please contact [email protected].
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
4.32%
Cash-on-Cash
-1.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93