In July of 2018, Emerald Creek Capital provided a $1,700,000 acquisition loan in the Greenpoint neighborhood of Brooklyn, NY. The loan is secured by a 4,088 square foot multifamily building situated on a 1,580 square foot lot, currently configured with four two-bedroom apartments. The borrower has plans to convert the three upper floor units into three-bedroom units and the ground floor unit into a three-bedroom duplex with cellar space. Greenpoint is an evolving residential area with hipster appeal and a vibrant artistic community. The neighborhood enjoys a revitalized East River waterfront park, trend-setting eateries, bars, and live music venues. The subject property benefits from the G subway line at Nassau Avenue.
For more information, please contact:
Mike Cleaver, Managing Director