In April of 2019, Emerald Creek Capital provided a $3,500,000 bridge loan in the Kips Bay neighborhood of New York, NY. The loan is secured by a 4-story mixed-use building currently improved with five residential units and a 1,195 square foot retail space on the ground floor. The subject property is situated on a 1,173 square foot corner lot and has 70 feet of total frontage. Upon renovation and addition, the end product will be comprised of six residential units over ground floor retail. Located in the heart of Manhattan, Kips Bay is a popular neighborhood among students and young professionals who benefit from an array of dining, shopping, and nightlife options. The subject property is accessible by the 6, N, Q, R, and W subway lines.
For more information, please contact:
Jeff Seidler, Managing Director