In February 2016, Emerald Creek Capital provided a $1,350,000 acquisition loan in the Long Island City neighborhood of Queens, NY. The 100 x 100 ft site, is zoned in the M1-3 manufacturing district, which permits a base floor area ratio of 5. Therefore, the site can be developed “as of right” up to 50,000 SF.
In addition, plans have been approved for a 9-story hotel comprised of 175 rooms totaling 49,990 SF. The subject property is located within a 1/2 mile of the N, Q, F, & E subway lines.
For more information please contact:
Matt Fantuzzi, Senior Associate