In March of 2018, Emerald Creek Capital provided a $1,350,000 acquisition loan in the Boerum Hill neighborhood of Brooklyn, NY. The bridge loan is secured by a two‐story plus basement multifamily building containing three residential units with an above-grade building area of 2,700 square feet. The borrower plans to redevelop the subject property into a luxury multifamily building utilizing the 7,500 square feet of maximum buildable area. Boerum Hill is a highly desirable residential and business district, known for its architectural and historical features, as well as top-rated restaurants, bars, and boutiques. The property benefits from immediate access to the D, M, N, R, 2, 3, 4, 5, B, and Q subway lines and the LIRR at Atlantic Terminal.
For more information, please contact:
Dean Wang, Senior Vice President