In November of 2019, Emerald Creek Capital provided an $11,800,000 bridge loan in the Long Island City neighborhood of Queens, NY. The loan is secured by a two-story commercial building situated on a 28,091 square foot corner lot with 46,350 square feet of net rentable area. Consisting of a mix of warehouse and office space, the building is currently leased to various tenants including television and media studios, a car dealership, and a limousine service business. The subject property occupies an entire block and benefits from a favorable location off Northern Boulevard, one of the area’s most trafficked commercial corridors. Long Island City is an increasingly popular neighborhood that continues to undergo commercial and residential development due to its proximity to Manhattan. The subject property is easily accessible by the N, W, R and M subway lines.
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