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Derby Copeland Capital Provides $5M Acquisition & Renovation Loan For Multifamily Building In Brooklyn Heights

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FINANCED
$5,000,000
Matthew (Matt) Albano
Brad Fishbein
Toby Waring
+ 4

New York

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MultiFamily6,360 SF
Financed 06/28/2022
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FINANCED

Derby Copeland Capital Provides $5M Acquisition & Renovation Loan For Multifamily Building In Brooklyn Heights

84 State Street, Brooklyn, New York 11201, United States

See Similar Deals
MultiFamily6,360 SF
Financed 06/28/2022
Matthew (Matt) Albano
Brad Fishbein
Toby Waring
+ 4
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$786
Total Square Footage:6,360 SF
Transaction Type:Loan

Derby Copeland Capital closed a first-priority mortgage loan for the acquisition and renovation of a multifamily building located at 84 State Street in Brooklyn Heights. The loan amount of $5,000,000 will cover the borrower's full gut renovation of the 6,250 square foot property.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $5,000,000
  • Address: 84 State St.
  • Market: Brooklyn Heights
  • Lender: Derby Copeland Capital
  • Brokers: Matt Albano & Brad Fishbein - GCP Capital

Derby Copeland Capital, a New York City-based private equity firm specializing in real estate-related debt financing and equity investments, financed the acquisition loan and will also provide financing for the renovation. The firm encourages loan, preferred equity, and equity opportunities to be sent to [email protected].

Players

Adam Lobel
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Adam Lobel
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Daniel Shawah
Baldwin Pearson & Co
Daniel Shawah
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Luke Sproviero
Investment Property Realty Group (IPRG)
Luke Sproviero
222 deals$848.7M volume
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Toby Waring
Investment Property Realty Group (IPRG)
Toby Waring
89 deals$348.6M volume
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Matthew (Matt) Albano
Gcp Capital Group
Matthew Albano
10 deals$81.2M volume
BROKER
Brad Fishbein
Gcp Capital Group
Brad Fishbein
5 deals$64.2M volume
BROKER
Derby Copeland Capital
Derby Copeland Capital
LENDER

Details

FINANCED
IMAGE: Brad Fishbein & Matt Albano DATE: 06/28/2022 ADDRESS: 84 State St. MARKET: Brooklyn Heights ASSET TYPE: Multifamily ~ SF: 6,250 LENDER: Derby Copeland Capital BROKERS: Matt Albano & Brad Fishbein (@BFishbeinRE) - GCP Capital LOAN AMOUNT: $5,000,000 LOAN TYPE: Acquisition & Renovation NOTE FROM LENDER: Derby Copeland Capital closed the first-priority mortgage loan secured by the multifamily building located at 84 State Street. At closing, Derby Copeland financed an acquisition loan & will finance renovation proceeds over the course of the borrower's full gut renovation of the building. Derby Copeland Capital is a New York City based private equity firm that specializes in opportunistic real estate related debt financing & equity investments. Please send any loan, preferred equity & equity opportunities to [email protected].

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$5,000,000.00

Monthly NOI$33,333.33
Monthly Debt Service$31,603.40
Change in Cash Flow$0.00
Refinance Proceeds$0.00