In March of 2023, Emerald Creek Capital provided a $60,500,000 condominium inventory loan in the Long Island City neighborhood of Queens, NY. The loan is secured by 84 condominium units totaling 71,519 square feet within a newly constructed 67-story tower. The building is the tallest skyscraper in Long Island City and contains a total of 707,560 square feet with 644,004 square feet of residential condos, 26,830 square feet of retail, and a 36,800 square foot parking garage. Amenities include a 24-hour doorman and concierge, fitness center, 75-foot indoor swimming pool, business center, pet spa, and more. The subject units range from studios to four bedrooms and are primarily penthouses or located on the upper floors, offering superb views of the Manhattan skyline and surrounding area. Directly across the East River from Manhattan, Long Island City is one of New York’s fastest-growing neighborhoods. The area continues to evolve offering a vibrant restaurant and nightlife scene, waterfront parks, and new commercial and residential development. The subject property has direct in-building access to the E, G, M, and 7 subway lines, with a 10-minute commute to Midtown East, Manhattan.
For more information, please contact:
Dean Wang, Senior Vice President
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