In September 2016, Emerald Creek Capital provided a $15,200,000 bridge loan secured by a 5,062 SF development site located in the Financial District of Lower Manhattan on Maiden Lane, between Broadway and Nassau Street. The borrower plans to build a 192-key boutique hotel encompassing 75,467 square feet. The plans have been approved by the NYC DOB and include a lobby restaurant and bar, rooftop lounge, fitness center, and business center. The property is well suited for a hospitality project as the Financial District is one of New York City’s major tourist destinations, drawing over 15 million visitors annually.
For more information, please contact:
Jeff Seidler, Managing Director