$17,000,000 – New York, NY (Kips Bay)

In December of 2018, Emerald Creek Capital provided a $17,000,000 acquisition loan in the Kips Bay neighborhood of New York, NY.  The loan is secured by four adjacent mixed-use and multifamily properties. The buildings encompass 41 units and total 25,500 square feet of existing building area. The borrower’s long-term plan is to redevelop the properties into a 21-story luxury tower consisting of 90 residential units and 3,219 square feet of ground-floor retail. Located in the heart of Manhattan, Kips Bay is a popular neighborhood among students and young professionals who benefit from an array of dining, shopping, and nightlife options. The subject property is accessible by the 4, 6, N and R trains.


For more information, please contact:

Matt Fantuzzi, Senior Associate
(646) 237-2570

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