Recent Transactions

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Union Square Mixed-Use Buiding

May 2021

$55,000,000 – New York, NY (Union Square)

Union Square Mixed-Use Buiding

In May of 2021, Emerald Creek Capital provided a $55,000,000 bridge loan in the Union Square neighborhood of New York, NY.  The loan is secured by a 6-story, Class A mixed-use retail and office building with 73,113 square feet of net rentable area. An AIA Design Award winner, the building features an iconic glass dome creating a unique, light-filled, space with soaring views overlooking Union Square. The retail component of the subject property consists of 8,467 square feet of net rentable area at grade and 6,511 square feet of retail space on the cellar level. The office component contains 58,135 square feet of net rentable area on the 2nd through 6th floors. Union Square is a central, bustling neighborhood known for trendy restaurants, sought-after retail shopping, and high-quality mixed-use buildings surrounding the iconic Union Square Park. The subject property benefits from a prime high-visibility location and is easily accessible via the 4, 5, 6, L, N, Q, R, and W trains.

 

For more information, please contact:

Jeff Seidler, Managing Director
(212) 239-6517
jseidler@emeraldcreekcapital.com

Check out our interactive map for a comprehensive look at our nationwide lending activity.

borough park brooklyn ny multifamily building

May 2021

$2,750,000 – Brooklyn, NY (Borough Park)

borough park brooklyn ny multifamily building

In May of 2021, Emerald Creek Capital provided a $2,750,000 bridge loan in the Borough Park neighborhood of Brooklyn, NY. The loan is secured by a newly constructed multifamily building with three spacious high-quality units and 6,091 square feet of gross building area above-grade. The subject property is configured as a four-bedroom duplex on the 1st and cellar level, and two five-bedroom apartments on the second and third floors each with a private balcony. The duplex unit includes a garage and a glass-enclosed sunroom overlooking a private garden. All the units have high ceilings, crown moldings, floor-to-ceiling windows, and large chef’s kitchens with European appliances. Borough Park is a desirable neighborhood of Brooklyn with a high demand for multifamily properties. The subject property is conveniently located within walking distance of various retail stores and eateries, with access to the D subway line on New Utrecht Avenue.

 

For more information, please contact:

Mike Cleaver, Managing Director
(212) 239-6845
mcleaver@emeraldcreekcapital.com

Check out our interactive map for a comprehensive look at our nationwide lending activity.

midtown east commercial corner building

April 2021

$5,000,000 – New York, NY (Midtown East)

midtown east commercial corner building

In April of 2021, Emerald Creek Capital provided a $5,000,000 bridge loan in the Midtown East neighborhood of New York, NY. The loan is secured by a 4,410 square foot corner lot with 133 feet of frontage and 52,928 square feet of buildable area. The site is currently improved with a two‐story mixed-use building consisting of five ground-floor retail spaces and a medical therapy center on the second floor. Due to its prime location in bustling Midtown East, the subject property is well-positioned for further development to take advantage of the available buildable area. Midtown East is a central and vibrant neighborhood with a high concentration of office buildings, retail shopping, and residential towers. The area is home to some of Manhattan’s most iconic skyscrapers and landmarks, including the Chrysler Building and United Nations. 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.

For more information, please contact:

Matt Fantuzzi, Vice President
(646) 237-2570
mfantuzzi@emeraldcreekcapital.com

Check out our interactive map for a comprehensive look at our nationwide lending activity.

 

montauk waterfront property bridge loan

April 2021

$18,500,000 – Montauk, NY (Long Island)

montauk waterfront property bridge loan

In April of 2021, Emerald Creek Capital provided an $18,500,000 bridge loan in the town of Montauk, NY at the easternmost end of Long Island. The loan is secured by an expansive waterfront property with sunset views over Lake Montauk. The sponsor plans to redevelop the property into a 40,000 square foot condominium complex with a 100-slip marina, spa, fitness center, pool, restaurant, and event space. Montauk is a historic and highly sought-after coastal community known for its scenic beaches, state parks, resorts, and restaurants. Among its most notable attractions is the iconic Montauk Point Lighthouse and Montauk Point State Park. The subject property is accessible from Montauk Highway and is located just minutes from the Montauk Airport.

 

For more information, please contact:

Dean Wang, Senior Vice President
(646) 561-4750
dwang@emeraldcreekcapital.com

Check out our interactive map for a comprehensive look at our nationwide lending activity.

Brooklyn Condominium Building Bridge Loan

April 2021

$3,600,000 – Brooklyn, NY (Greenpoint)

Brooklyn Condominium Building Bridge Loan

In April of 2021, Emerald Creek Capital provided a $3,600,000 bridge loan to a repeat borrower in the Greenpoint neighborhood of Brooklyn, NY. The loan is secured by a three-story multifamily building that the sponsor plans to redevelop into a four-story, six-unit condominium building. The unit mix will ultimately consist of four one-bedroom units, one two-bedroom full-floor unit, and one three-bedroom triplex with a private backyard. Greenpoint is an evolving residential area with hipster appeal and a vibrant artistic community. The neighborhood benefits from waterfront parks along the East River, trend-setting eateries, bars, and live music venues. The subject property is easily accessible by the G train.

 

For more information, please contact:

Jeff Seidler, Managing Director
(212) 239-6517
jseidler@emeraldcreekcapital.com

 

Check out our interactive map for a comprehensive look at our nationwide lending activity.

queens new york warehouse storage acquisition loan

March 2021

$9,000,000 – Queens, NY (Elmhurst)

queens new york warehouse storage acquisition loan

In March of 2021, Emerald Creek Capital provided a $9,000,000 acquisition loan in the Elmhurst neighborhood of Queens, NY. The loan is secured by a 35,537 square foot warehouse on a 54,913 square foot site with 359 feet of frontage. The property has ceiling heights of 17 feet and 5 drive-in loading doors. The sponsor plans to redevelop the property into a state-of-art self-storage facility containing 2,300 climate-controlled units of varying sizes with 134,200 square feet of net rentable area. Elmhurst is a densely populated residential neighborhood with proximity to Queens Boulevard, the Long Island Expressway, and the Brooklyn Queens Expressway. The subject property is ideally located for a self-storage facility with visibility and access from Grand Avenue, the neighborhood’s main commercial corridor.

 

For more information, please contact:

Scott Steinel, Senior Associate
(646) 237-2568
ssteinel@emeraldcreekcapital.com

 

Check out our interactive map for a comprehensive look at our nationwide lending activity.

williamsburg brooklyn mixed-use building bridge loan

March 2021

$5,200,000 – Brooklyn, NY (Williamsburg)

williamsburg brooklyn new york mixed-use building

In March of 2021, Emerald Creek Capital provided a $5,200,000 bridge loan in the Williamsburg neighborhood of Brooklyn, NY. The loan is secured by two adjacent mixed-use buildings with a combined gross building area of 13,375 square feet situated on a prime corner lot. Each building is four stories and contains one ground floor commercial unit and three two-bedroom apartments. The units have a loft-style design with high ceilings, and many have unobstructed views of the East River and Manhattan Skyline. Williamsburg is one of Brooklyn’s most desirable neighborhoods directly across the Brooklyn Bridge from Manhattan.  The area is a hub for the arts and music community and has evolved into a vibrant neighborhood of vintage boutiques, eateries, and music venues. The subject property is located two blocks from the waterfront and is accessible by the M, J, and Z subway lines and the ferry at South Williamsburg terminal.

 

For more information, please contact:

Mike Cleaver, Managing Director
(212) 239-6845
mcleaver@emeraldcreekcapital.com

Check out our interactive map for a comprehensive look at our nationwide lending activity.

bronx NY warehouse self-storage building

February 2021

$7,080,000 – The Bronx, NY (Longwood)

bronx longwood new york warehouse self storage industrial

In February of 2021, Emerald Creek Capital provided a $7,080,000 acquisition loan in the Longwood neighborhood of the Bronx, NY. The loan is secured by a single-story warehouse on a 56,813 square foot site with 714 feet of frontage. The sponsor plans to redevelop the property into a state-of-art self-storage facility containing 2,300 climate-controlled units of varying sizes with 124,300 square feet of net rentable area. The property has ceiling heights of 16 – 18 feet, with 8 drive-in dock-high loading doors, and parking available adjacent to the building. Longwood is a densely populated neighborhood just north of Manhattan that has seen increased development in recent years. The subject property is ideally located for a self-storage facility with direct access to Bruckner Boulevard and the Bruckner Expressway and is less than 2 blocks from the 6 train.

 

For more information, please contact:

Scott Steinel, Senior Associate
(646) 237-2568
ssteinel@emeraldcreekcapital.com

Check out our interactive map for a comprehensive look at our nationwide lending activity.

walgreens retail building

February 2021

$4,700,000 – Johnson City, TN, Waynesville, GA, & Sanderson, FL

walgreens retail building

In February of 2021, Emerald Creek Capital provided a $4,700,000 acquisition loan secured by three retail properties located in Johnson City, TN, Waynesville, GA, and Sanderson, FL. Each of the properties consists of a free-standing, single-tenant building currently net-leased to a national retailer: Walgreens, Family Dollar, and Dollar General, respectively. The combined net rentable area of the subject properties totals 31,930 square feet. Each property is ideally located on a central, high traffic roadway and is well-positioned to meet market demand.

 

For more information, please contact:

Matt Fantuzzi, Vice President
(646) 237-2570
mfantuzzi@emeraldcreekcapital.com

 

Check out our interactive map for a comprehensive look at our nationwide lending activity.

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