In March of 2020, Emerald Creek Capital provided a $2,400,000 acquisition loan in the Midtown East neighborhood of New York, NY. The loan is secured by a 4-story townhouse with 4,334 square feet of gross buildable area. Built in 1936 and designated as a historical landmark, the property was designed by architect William Edmond Lescaze in an innovative Modernist style. The residence is configured with studio and office space on the ground floor, with 5 bedrooms, 5 bathrooms, a kitchen and living areas on the upper floors. Known as the nation’s largest commercial district, Midtown East is also home to luxury residential buildings and some of Manhattan’s most iconic skyscrapers and landmarks. The subject property is accessible by the E, M, 4, 5, 6, 7, and Time Square Shuttle trains in addition to the Metro-North Railroad at Grand Central Terminal.
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