P. Zaccaro signs $32.8M refi with Derby Copeland for properties in Nolita, Chinatown, SoHo

P. Zaccaro through the entity 1-3 Mott And 218 Lafayette Street Partners, LLC as borrower signed a refi loan with lender Derby Copeland Capital through the entity DCC Remmcf Seller Atlas, LLC valued at $32.8 million for three properties in Manhattan with 27 residential units including the 24-unit residential walkup building (C7) at 241 Mulberry Street in Nolita, the three-unit mixed-use building (K4) at 1-3 Mott Street in Chinatown, and mixed-use building (K2) at 218 Lafayette Street in SoHo.
The deal closed on May 11, 2026 and was recorded on June 18, 2026. The prior lender was Oceanview Life and Annuity Company. The three properties have 26,026 square feet of built space and 10,145 square feet of additional air rights for a total buildable of 35,266 square feet according to a PincusCo analysis of city data. The loan price per built square foot is $1,258 and the price per buildable square foot is $928 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 signatory for P. Zaccaro was John A. Zaccaro Sr. . The signatory for Derby Copeland Capital was Jesse Hutcher .

Because multiple properties have been transacted, some of the following sections will follow the property with the largest assessed value, which in this case, is the property on 241 Mulberry Street.

Prior sales, articles and revenue

The owners according to the Department of Housing Preservation and Development includes John Zaccaro, head officer and John Zaccaro Jr, officer. The business entity is DJL Family Limited Partnership.

The property

The residential walkup building with 24 residential units in Nolita has frontage of 25 feet and is 99 feet deep with a total lot size of 2,479 square feet. The zoning is C6-2 which allows for up to 6 times floor area ratio (FAR) for commercial and up to 6.02 times FAR for residential. The city-designated market value for the property in 2022 is $4.6 million. Derby Copeland Capital on May 11, 2026 bought a loan from Oceanview Life and Annuity Company signed by Marnie Adams , secured by 241 Mulberry Street, 1-3 Mott Street, and 218 Lafayette Street, when owned by P. Zaccaro . The property has 4 rent regulated units according to city tax records from 2024.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have received $6,250 in ECB penalties and $10,410 in OATH penalties in the last year.

Development

For the tax lot buildings, one out of the three buildings received a initial certificate of occupancy in the last ten years. 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 the tax block of 241 Mulberry Street, PincusCo has identified the owners of 10 of the 20 commercial properties representing 272,282 square feet of the 370,675 square feet. The largest owner is Abington Properties , followed by Hakimian Organization and then Gilman Management.
There are no active new building construction projects on this tax block.

The majority, or 50 percent of the 370,675 square feet of built space are walkup buildings, with elevator buildings next occupying 35 percent of the space.

The borrower

The PincusCo database currently indicates that P. Zaccaro owned at least four commercial properties with 39 residential units in New York City with 51,628 square feet and a PincusCo-determined asset value of $72.4 million. The portfolio has $156.7 million in debt, with top three lenders as Oceanview Life and Annuity Company, Derby Copeland Capital, and G4 Capital Partners respectively. Within the portfolio, the bulk, or 49 percent of the 51,628 square feet of built space are elevator properties, with mixed-use properties next occupying 28 percent of the space.

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