In August of 2019, Emerald Creek Capital provided a $13,200,000 bridge loan in the Prospect Lefferts Gardens neighborhood of Brooklyn, NY. The loan is secured by a two-story, 43,200 square foot commercial building situated on a 27,000 square foot corner lot. The building is currently occupied by a supermarket, a Dollar Tree store, and an educational facility on the second floor with a rooftop recreation area. The subject property also includes a 5,200 square foot parking lot. Prospect Lefferts Gardens is a desirable residential and retail neighborhood mainly due to its close proximity to Prospect Park, Brooklyn’s most prominent park. The subject property benefits from a prime location on a well-trafficked commercial avenue and is easily accessible by the 2 and 5 trains.
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