The development site located at 753 Washington Avenue in Crown Heights, Brooklyn, with a buildable square footage of 10,464, was involved in a recent transaction where Derby Copeland Capital provided a loan of $6,850,000 for acquisition and development purposes.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $6,850,000
• Market: Crown Heights, Brooklyn
• Lender: Derby Copeland Capital
• Landlord: Mark Stagg, Louis Lebovitz, Stephan Tchorbajian & Michael Golumb
• Broker: Morris Betesh - Meridian Capital Group

Derby Copeland Capital, a New York City-based private equity firm specializing in real estate-related debt financing and equity investments, closed a recapitalization loan for the development site. The loan encompasses both acquisition and construction financing, supporting the borrower's condominium development project. Derby Copeland Management Group, LLC, the affiliated investment adviser, underscores the firm's commitment to real estate investments.