RYCO Capital signs $10.8M refi with Urban Standard Capital for mixed-use in West Village

RYCO Capital through the entity West Lake 801 Greenwich LLC as borrower signed a refi loan with lender Urban Standard Capital through the entity USC 801 Greenwich LLC valued at $10.8 million for the four-unit mixed-use building (S9) at 801 Greenwich Street in West Village, Manhattan.
The deal closed on August 7, 2025 and was recorded on September 4, 2025. The prior lender was Derby Copeland Capital which held debt that had an original loan amount of $8.4 million.The property has 11,496 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $936 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 24, 2023, for $8.6 million. The signatory for RYCO Capital was James D. Ryan III . The signatory for Urban Standard Capital was Seth Weissman .

The property

The mixed-use building with 4 residential units in West Village has 11,496 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 82 feet deep with a total lot size of 2,000 square feet. The lot is irregular. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The property is in the Greenwich Village Historic District. The city-designated market value for the property in 2022 is $6.7 million. Derby Copland Capital on July 24, 2023 bought a loan with an original principal of 8445000.0 from Derby Copeland Capital signed by James D. Ryan III, secured by 801 Greenwich Street, when owned by RYCO Capital.

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 $1,500 in OATH penalties in the last year.

Development

On the lot, there is one active major alteration construction project, M00908635, for a five-unit, 10,098 square-foot RES building. The project was submitted by RYCO Capital and filed by Edward Robertson with plans filed July 28, 2023 and permitted June 26, 2024.

The neighborhood

In West Village, The bulk, or 31 percent of the 10.6 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 27 percent of the space. In sales, West Village has 3 times the average sales volume among other neighborhoods with $853.1 million in sales volume in the last two years and is the 12th highest in Manhattan. For development, West Village has had very little major development activity relative to other neighborhoods.It had 846,526 square feet of commercial and multi-family construction under development in the last two years, which represents 8 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of 11 of the 27 commercial properties representing 66,973 square feet of the 112,364 square feet. The largest owner is Ryco Capital, followed by 23 8th And Jane Llc and then Manouchehr Malekan.
There are no active new building construction projects on this tax block.

The majority, or 56 percent of the 112,364 square feet of built space are mixed-use buildings, with walkup buildings next occupying 32 percent of the space.

The borrower

The PincusCo database currently indicates that RYCO Capital owned at least 20 commercial properties with 275 residential units in New York City with 267,417 square feet and a city-determined market value of $140.1 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 49 percent of the 267,417 square feet of built space are walkup properties, with mixed-use properties next occupying 26 percent of the space. The bulk, or 96 percent of the built space, is in Manhattan, with Brooklyn next at 4 percent of the space.

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