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Derby Copeland Capital Closes Acquisition & Renovation Loan For Multifamily Property In Park Slope, Brooklyn

Property Image
FINANCED
$3,750,000
Matthew (Matt) Albano
Brad Fishbein
DC

New York

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MultiFamily5,769 SF
Financed 12/03/2021
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Property Image
FINANCED

Derby Copeland Capital Closes Acquisition & Renovation Loan For Multifamily Property In Park Slope, Brooklyn

851 Carroll Street, Park Slope, Brooklyn, NY, USA

See Similar Deals
MultiFamily5,769 SF
Financed 12/03/2021
Matthew (Matt) Albano
Brad Fishbein
DC
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$650
Total Square Footage:5,769 SF
Transaction Type:Loan

Derby Copeland Capital has closed the first-priority mortgage loan for the multifamily building located at 851 Carroll Street in Park Slope, Brooklyn. The property is a multifamily asset with a total square footage of 5,769. The loan, provided by Derby Copeland, is an acquisition and renovation loan amounting to $3,750,000. The borrower plans to fully gut renovate the building with the proceeds from the loan.

Summary of Transaction Details

  • Property Type: Multifamily
  • Transaction Amount: $3,750,000
  • Address: 851 Carroll Street, Park Slope, Brooklyn
  • Square Footage: 5,769
  • Lender: Derby Copeland Capital
  • Brokers: Matt Albano & Brad Fishbein - GCP Capital

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, preferred equity, and equity opportunities, please contact [email protected].

Players

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
DC
Derby Copeland Capital
13 deals$58.3M volume
LENDER
BridgeCity Capital
BridgeCity Capital
LENDER
Derby Copeland Capital
Derby Copeland Capital
LENDER

Details

FINANCED
IMAGE: Brad Fishbein & Matt Albano DATE: 12/03/2021 ADDRESS: 851 Carroll Street MARKET: Park Slope, Brooklyn ASSET TYPE: Multifamily ~ SF: 5,769 LENDER: Derby Copeland Capital BROKERS: Matt Albano & Brad Fishbein (@BFishbeinRE) - GCP Capital LOAN AMOUNT: $3,750,000 LOAN TYPE: Acquisition & Renovation loan NOTE FROM @DerbyCopelandCapital: Derby Copeland Capital closed the first-priority mortgage loan secured by the multifamily building located at 851 Carroll 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

$3,750,000.00

Monthly NOI$25,000.00
Monthly Debt Service$23,702.55
Change in Cash Flow$0.00
Refinance Proceeds$0.00