In June of 2022, Emerald Creek Capital provided a $12,500,000 bridge loan in the New York City boroughs of Manhattan and Queens. The loan is secured by a 51-room hotel with 1,500 square feet of retail space in Times Square, New York City’s most iconic and high-traffic neighborhood. The area draws a constant influx of tourism with top-rated restaurants, retailers, and entertainment including infamous Broadway theatres. The subject property benefits from a myriad of public transportation options offering access to the rest of Manhattan and the outer boroughs. Additional collateral securing the loan includes a 3-story, 63-room hotel in the Jamaica neighborhood of Queens, NY. The subject property is located in the immediate proximity of John F. Kennedy International Airport, the busiest airport in New York, and a major demand generator for hospitality.
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