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Derby Copeland Capital Refinances 76-Unit Building On Avenue A With Acore Capital For $48.8M

Property Image
FINANCED
$48,800,000

New York

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MultiFamily79,956 SF
Financed 05/14/2025
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Property Image
FINANCED

Derby Copeland Capital Refinances 76-Unit Building On Avenue A With Acore Capital For $48.8M

58 Avenue A

See Similar Deals
MultiFamily79,956 SF
Financed 05/14/2025
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$610
Total Square Footage:79,956 SF
Transaction Type:Loan

The property asset involved in this transaction is a multi-family residential building located at 58 Avenue A in the East Village, Manhattan. The building encompasses a total of 79,956 square feet and consists of 76 residential units. The refinancing involves a loan amount of $48,800,000.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $48,800,000
  • Lender: Warren de Haan - Acore Capital
  • Landlord: Jesse Hutcher - Derby Copeland Capital
  • Previous Debt: $55,800,000 from Berkshire Residential Investments

This transaction features Jesse Hutcher representing Derby Copeland Capital as the landlord in the refinance arrangement with Warren de Haan, who represents Acore Capital as the lender in this transaction. The loan serves to replace a previous debt secured by the property.

Players

WH
Acore Capital
Warren de Haan
5 deals$344.6M volume
LENDER
Acore Capital
Acore Capital
LENDER

Details

FINANCED
IMAGE: Jesse Hutcher & Warren de Haan DATE: 05/14/2025 ADDRESS: 58 Avenue A MARKET: East Village, Manhattan ASSET TYPE: MultiFamily ~ SF: 79,956 ~ UNITS: 76 LENDER: Warren de Haan - Acore Capital LANDLORD: Jesse Hutcher - Derby Copeland Capital LOAN AMOUNT: $48,800,000 LOAN TYPE: Refinance NOTE: Derby Copeland Capital refinanced its 76-unit residential building at 58 Avenue A, East Village, with a $48.8 million loan from Acore Capital, replacing a $55.8 million debt from Berkshire Residential Investments.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$48,800,000.00

Monthly NOI$325,333.33
Monthly Debt Service$308,449.20
Change in Cash Flow$0.00
Refinance Proceeds$0.00