Holliswood Development signs $13.4M construction loan to enlarge 30-unit walkup in Yorkville

Holliswood Development through the entity Holliswood 93 LLC as borrower signed a construction loan with lender Derby Copeland Capital through the entity DCC Remmcf Originator, LLC valued at $13.4 million for the 30-unit residential walkup building (C7) at 303 East 93rd Street in Yorkville, Manhattan. Holliswood Development filed a major alteration project for the building, M01376862, planning to add two floors to raise the height from 47 feet to 67 feet tall.
The deal closed on February 27, 2026 and was recorded on March 26, 2026. The prior lender was Derby Copeland Capital which held debt that had an original loan amount of $3.3 million. The property has 14,644 square feet of built space and 2,997 square feet of additional air rights for a total buildable of 17,632 square feet according to a PincusCo analysis of city data. The loan price per built square foot is $913 and the price per buildable square foot is $758 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 February 27, 2026, for $4.3 million. The signatory for Holliswood Development was Dana Lowey . The signatory for Derby Copeland Capital was Jesse Hutcher .

B6 Real Estate Advisors created a setup for 303-305 East 93rd Street in 2022 as marketing material for the property.

The property

The residential walkup building has 14,644 square feet of built space and 2,997 square feet of additional air rights for a total buildable of 17,632 square feet according to a PincusCo analysis of city data. The parcel has frontage of 50 feet and is 100 feet deep with a total lot size of 4,408 square feet. The zoning is R8B which allows for up to 4 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $4.8 million. Derby Copeland Capital on February 27, 2026 bought a loan with an original principal of $3.3M from Derby Copeland Capital signed by prior lender signatory, secured by 303 East 93rd Street, when owned by Holliswood Development .

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 $700 in OATH penalties in the last year.

The block

On this tax block, PincusCo has identified the owners of nine of the 24 commercial properties representing 86,730 square feet of the 462,689 square feet. The largest owner is Sassouni Management, followed by Gerard Mchugh and then Lynn Gettenberg.
There are no active new building construction projects on this tax block.

The majority, or 47 percent of the 462,689 square feet of built space are elevator buildings, with walkup buildings next occupying 39 percent of the space.

The borrower

The PincusCo database currently indicates that Holliswood Development owned at least 10 commercial properties with 117 residential units in New York City with 69,301 square feet and a city-determined market value of $34 million. (Market value is typically about 50% of actual value.) The portfolio has $55.2 million in debt, with top three lenders as First Republic Bank, Derby Copeland Capital, and City National Bank respectively. Within the portfolio, the bulk, or 76 percent of the 69,301 square feet of built space are walkup properties, with mixed-use properties next occupying 14 percent of the space. The bulk, or 66 percent of the built space, is in Manhattan, with Brooklyn next at 34 percent of the space.

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