In July of 2019, Emerald Creek Capital provided a $32,000,000 bridge loan in the Lower East Side neighborhood of Manhattan, NY. The loan is secured by a 5,417 square foot development site with 41,093 square feet of zoning floor area. Plans for the site include a 14-story mixed-use building comprised of retail space, office space, community facilities, and residential units on the upper floors. The Lower East Side is one of New York’s most historic and diverse communities. The area has undergone considerable gentrification since the early 2000s, making it one of the city’s trendiest neighborhoods where upscale boutiques, contemporary art galleries, and restaurants line the streets. The subject property benefits from access to the B, D, F, and J subway lines.
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