In March of 2014, Emerald Creek Capital provided a twelve month $1,750,000 commercial bridge loan secured by a development site in University Heights section of the Bronx. Zoned C2-4 with an R7-1 overlay, the lot is 229.67′ X 147.75′ with an FAR of 3.44 allowing for a gross building area of 116,000 SF. Emerald Creek’s bridge loan was used to payoff a maturing loan and allocated for reserves while the site is listed for sale.
For more information, please contact:
Mike Cleaver, Director