BIG Management signs $3.4M refi with Derby Copeland in Bed Stuy
BIG Management through the entity 1147 Bedford Owner LLC as borrower signed a refi loan with lender Derby Copeland Capital through the entity Fcr Dc Jv Holdings LLC valued at $3.4 million for the eight-unit residential walkup building (C7) at 1147 Bedford Avenue in Bedford Stuyvesant, Brooklyn.
The deal closed on April 4, 2025 and was recorded on April 16, 2025. The prior lender was PSG Lending which held debt that had an original loan amount of $3 million.
The property has 6,566 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $517 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The owner bought the property on March 24, 2022, for $2.3 million. The signatory for BIG Management was Nicholas Larosa . The signatory for Derby Copeland Capital was Jesse Hutcher .
Prior sales and revenue
The 6,566-square-foot property generated revenue of $241,923 or $37 per square foot, according to the most recent income and expense figures.
The property
The residential walkup building with 8 residential units in Bedford Stuyvesant has 6,566 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 20 feet and is 100 feet deep with a total lot size of 2,000 square feet. The zoning is R6A which allows for up to 3 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $1.3 million.
Violations and lawsuits
There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received one DOB violation and $250 in OATH penalties in the last year.
Development
There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.
The block
On this tax block, PincusCo has identified the owners of three of the 16 commercial properties representing 29,968 square feet of the 63,889 square feet. The largest owner is Robyn Lucas-Cora, followed by Kevin Abihssira and then Big Management.
On the tax block, there was one new building construction project filed totaling 4,899 square feet. It is a five-unit, 4,899 square-foot residential (R-2) building submitted by Tal Bloch|Aleksey Karatayev|Stanislav Nezhevenko and filed by Segev Nahcum with plans filed October 24, 2017 and permitted August 25, 2023.
The majority, or 64 percent of the 63,889 square feet of built space are walkup buildings, with mixed-use buildings next occupying 30 percent of the space.
The borrower
The PincusCo database currently indicates that Big Management owned at least one commercial property with eight residential units in New York City with 4,480 square feet and a city-determined market value of $395,000. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single walkup property. It is located in Brooklyn.
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