Peak Capital signs $15.3M refi for 46-unit walkup in Long Island City

Peak Capital Advisors through the entity 1155 45th Owner LLC as borrower signed a refi loan with lender Derby Copeland Capital through the entity Fcr Dc Jv Holdings LLC valued at $15.3 million for the 46-unit residential walkup building (C7) at 11-55 45th Avenue in Long Island City, Queens.
The deal closed on September 11, 2025 and was recorded on September 16, 2025. The prior lender was Prime Finance which held debt that had an original loan amount of $15 million.The property has 45,707 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $335 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 July 7, 2022, for $14.8 million. The signatory for Peak Capital Advisors was Alex Rabin and Juan David Gomez . The signatory for Derby Copeland Capital was Jesse Hutcher .

Prior sales and revenue

The owners according to the Department of Housing Preservation and Development includes Alex Kaskel, head officer and Mark Levine, officer. The business entities are Camelot Property Management and 1155 45th Owner Llc. The 45,707-square-foot property generated revenue of $1.5 million or $32 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 46 residential units in Long Island City has 45,707 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 100 feet and is 100 feet deep with a total lot size of 10,000 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 $7.4 million. Prime Finance on July 7, 2022 bought a loan with an original principal of 14971841.0 from Prime Finance signed by Alex Rabin|Juan David Gomez, secured by 11-55 45th Avenue, when owned by Peak Capital Advisors. The property has 4 rent regulated units according to city tax records from 2022.

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, nine housing violations, and $5,380 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 12 of the 19 commercial properties representing 185,659 square feet of the 199,399 square feet. The largest owner is Peak Capital Advisors, followed by Dorothy Pagano and then Century Development Group.
On the tax block, there was one new building construction project filed totaling 15,888 square feet. It is a 22-unit, 15,888 square-foot residential (R-2) building submitted by Daniel Gazal with plans filed June 15, 2017 and it has not been permitted yet.

The majority, or 84 percent of the 199,399 square feet of built space are walkup buildings, with office buildings next occupying 9 percent of the space.

The borrower

The PincusCo database currently indicates that Peak Capital Advisors owned at least 59 commercial properties with 628 residential units in New York City with 520,823 square feet and a city-determined market value of $160.7 million. (Market value is typically about 50% of actual value.) The portfolio has $207.8 million in debt, with top three lenders as Derby Copeland Capital, Argentic Investment Management, and Prime Finance respectively. Within the portfolio, the bulk, or 82 percent of the 520,823 square feet of built space are walkup properties, with mixed-use properties next occupying 12 percent of the space. The bulk, or 42 percent of the built space, is in Manhattan, with Brooklyn next at 35 percent of the space.

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