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

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.