Recent Transactions

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May 2024

$3,500,000 – Brooklyn, NY (Williamsburg)

In May of 2024, Emerald Creek Capital provided a $3,500,000 bridge loan in the Williamsburg neighborhood of Brooklyn, NY. The loan is secured by a newly renovated four-story apartment building with 8,428 square feet of gross building area and an average net effective rent of $4,600 per month. The subject property contains 8 apartments, including 2 ground floor duplex units and 2 upper floor units with a loft area. The units feature high quality finishes, spacious layouts, and in-unit washer/dryers. Williamsburg is one of Brooklyn’s most desirable residential neighborhoods in New York, 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 accessible by the L train.

May 2024

$21,800,000 – New York, NY (Roosevelt Island)

In May of 2024, Emerald Creek Capital provided a $21,800,000 condominium inventory loan on Roosevelt Island in New York, NY. The collateral consists of 37 residential condominiums and 4 retail condominiums situated within two luxury mixed-use buildings. The residential units range from one to three bedrooms. Several units feature private patios, and building amenities include a 24-hour doorman, fitness center, lounge, and a rooftop with sweeping views of Manhattan. The ground floor retail condominiums are 100% leased to 7 tenants. Roosevelt Island is a narrow island in New York City’s East River, known for its quiet residential neighborhoods, scenic parks, and striking skyline views. The subject property is accessible to Manhattan via the F train, Roosevelt Island Tramway, and NYC Ferry.

 

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.

May 2024

$5,500,000 – Queens, NY (Astoria)

In May of 2024, Emerald Creek Capital provided a $5,500,000 bridge loan in the Astoria neighborhood of Queens, NY. The loan is secured by a newly constructed five-story mixed-use building with 10 residential units situated above two commercial units. The subject property has 10,399 square feet of net rentable area. Each residential unit has two-bedrooms, and the penthouse is a full-floor unit with two private decks. Astoria is a vibrant neighborhood directly across the East River from Manhattan, well known for its cultural diversity and culinary scene. In addition to its proximity to Manhattan, a multitude of eclectic restaurants, parks, and cultural attractions enhance its appeal to families and young professionals. Astoria continues to see extensive investment in new residential and retail development. The subject property is easily accessible by the N and W subway lines.

 

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.

April 2024

$3,400,000 – Brooklyn, NY (Williamsburg & Bushwick)

In April of 2024, Emerald Creek Capital provided a $3,400,000 bridge loan in the Williamsburg and Bushwick neighborhoods of Brooklyn, NY. The collateral securing the loan includes a recently renovated seven-unit apartment building totaling 5,118 square feet.  The loan is additionally secured by a 1,652-square-foot parcel that will be developed into a 6-story, 8,257-square-foot mixed-use building comprised of five residential units and ground-floor retail.  Neighboring one another, Williamsburg and Bushwick are two of Brooklyn’s most desirable neighborhoods, targeted by developers over the past decade due to increased rental demand. The area is scattered with art studios and galleries, in addition to many parks, restaurants, shops, and businesses. Both properties are easily accessible via various subway and bus lines, in addition to highways and major thoroughfares.

 

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.

April 2024

$5,000,000 – Palm Springs, CA

In April of 2024, Emerald Creek Capital provided a $5,000,000 acquisition loan in Palm Springs, CA. The subject property is a 107-room hotel on 4.5 acres, which the sponsor plans to renovate into an upscale resort. Emerald Creek’s loan represented 40% of the acquisition cost. Our short-term loan was an advantageous and less expensive capital solution for the sponsor over sourcing all equity at a premium. Palm Springs is a renowned leisure destination in the picturesque desert region of Southern California, known for its hot springs, stylish hotels, golf courses, and spas. The lively downtown district is a mix of trendy cafes, restaurants, boutiques, and entertainment venues boasting a vibrant cultural scene. The nearby San Jacinto Mountains and Joshua Tree National Park offer scenic recreational opportunities. The subject property is 10 minutes from Palm Springs Airport, with prominent visibility on the primary thoroughfare connecting I-10 (from Los Angeles) to Downtown Palm Springs.

 

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.

 

 

April 2024

$5,400,000 – Bayonne, NJ (Hudson County)

In April of 2024, Emerald Creek Capital provided a $5,400,000 bridge loan in the Constable Hook neighborhood of Bayonne, NJ. The loan is secured by a newly constructed, 100% occupied, multifamily building with 19 units and 19,318 square feet of net rentable area. Amenities include a common roof terrace, fitness room, on-site parking with 16 spaces, and additional tenant storage. The city of Bayonne is characterized by a unique blend of urban and suburban qualities, along with its historical significance and strategic location. It sits uniquely on a peninsula surrounded by Newark Bay, the Kill Van Kull, and New York Bay, and its neighborhoods offer a range of living experiences, catering to a wide array of preferences and lifestyles. The subject property is accessible by multiple bus lines and the Light Rail.

 

For more information, please contact:

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

 

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

 

March 2024

$4,250,000 – Garden City, GA (Chatham County)

In March of 2024, Emerald Creek Capital provided a $4,250,000 acquisition loan in Garden City, GA, just outside of Savannah. The loan is secured by 5.09-acre multi-tenant industrial property with 11,500 square feet of fully leased warehouse and office space. The building features 20′ clear ceiling heights and 2 drive-in doors. The property is occupied by two tenants who also utilize the exterior site for container storage and truck parking. The subject property is located five miles from the Port of Savannah, the third largest seaport in the United States and a major demand generator for warehouse, cold storage, and industrial outdoor storage space. The subject property is minutes from downtown Savannah and benefits from proximity to the Savannah/Hilton Head International Airport and Interstate 95.

 

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.

February 2024

$6,200,000 – Brooklyn, NY (Williamsburg)

In February of 2024, Emerald Creek Capital provided a $6,200,000 bridge loan in the Williamsburg neighborhood of Brooklyn, NY. The subject property consists of a newly constructed apartment building with 11 units totaling 8,886 square feet. The one- and two-bedroom residences feature modern, high-end finishes, stainless steel appliances, and oversized windows. Several units have private balconies. Building amenities include a common roof deck, parking, elevator, and storage. Williamsburg is one of Brooklyn’s most desirable residential neighborhoods in New York, 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 accessible by the L train.

 

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.

January 2024

$17,500,000 – Norwalk, CT (Fairfield County)

     

In January of 2023, Emerald Creek Capital provided a $17,500,000 bridge loan in Norwalk, CT. The loan is secured by a newly constructed climate-controlled self-storage facility with a gross building area of 135,234 square feet. The Class A facility is 3 stories and consists of 1,110 units and has 87 surface parking spaces on site. Norwalk is a coastal city situated along the I-95 corridor in southwestern Connecticut. Its proximity to the New York metro area, and ongoing residential and commercial development, drives ample demand for storage for both personal and business needs. The subject property benefits from its location on Route 136, and is in close proximity to I-95, Route 7, Route 1, and the Metro-North Railroad at South Norwalk.

 

For more information, please contact:

Matt Fantuzzi, Senior 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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