In July of 2022, Emerald Creek Capital provided a $12,000,000 construction loan to a repeat borrower in Montauk, NY. The loan is secured by two adjacent parcels totaling 2 acres situated steps from the coveted beaches of Montauk. Development plans include the construction of two luxury five-bedroom residences, each on a meticulously designed property with breathtaking ocean views. One will have approximately 12,000 square feet of interior and exterior living space, and the other 10,000 square feet. Each residence will feature a roof deck terrace, swimming pool, gym, spa, three-car garage, wine cellar, indoor and outdoor lounge areas, and ultra-high-end finishes. At the easternmost end of Long Island, Montauk is a historic and sought-after coastal community known for its scenic beaches, state parks, resorts, and restaurants. The subject property is accessible from Montauk Highway, Montauk Airport, and the Long Island Railroad.
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