Manhattan, NY Derby Copeland Capital (DCC) closed a loan – totaling $33.75 million – to provide acquisition financing to AYA Acquisitions to acquire a leasehold interest in the property located at 225 East 63rd St.
The property is a 14-story mixed-use elevator building with 105,662 s/f above grade. The building consists of 151 residential units and a parking garage. The residential units are comprised of 131 free market apartments and 20 rent-stabilized units. The property is situated on a block between Second and Third Ave. in the Lenox Hill submarket of the Upper East Side neighborhood. The entrance of the Lexington Ave./63rd St. station (F and Q lines) is a walk a block away, offering access to Uptown and Midtown Manhattan as well as Brooklyn.
“Derby Copeland Capital remains committed to uncovering compelling investment opportunities backed by middle-market assets in the dynamic New York City market. As a capital provider for property owners during this challenging period for regional banks, we take pride in our role. Our confidence in New York City’s real estate is unwavering as we navigate and leverage the evolving opportunities within this vibrant landscape,” said Jesse Hutcher, founding principal and chief investment officer of Derby Copeland Capital.
Sign up is quick, easy, & FREE.
