Derby Copeland Capital (DCC), a real estate investment platform based in New York City, recently closed two loans totaling $12.5 million to refinance properties in the sought-after neighborhoods of SoHo and Williamsburg. The first loan, amounting to $8.75 million, was secured for a multifamily building located at 78 Grand Street in SoHo. This historic cast-iron building spans over 11,975 gross square feet and is home to four free-market apartments on its upper floors as well as Society Limonta retail space on the ground floor. In addition to refinancing the property’s existing debt, this loan also includes approximately $200,000 for renovations aimed at enhancing specific areas of the building.
The second loan worth $3.75 million was obtained for a property located at 65 Kent Avenue in Williamsburg’s bustling neighborhood of Brooklyn. Currently fully occupied with two free-market residential units and an attractive ground-floor retail space housing popular eatery and bar Kokomo, this property spans over 5
