In April of 2021, Emerald Creek Capital provided an $18,500,000 bridge loan in the town of Montauk, NY at the easternmost end of Long Island. The loan is secured by an expansive waterfront property with sunset views over Lake Montauk. The sponsor plans to redevelop the property into a 40,000 square foot condominium complex with a 100-slip marina, spa, fitness center, pool, restaurant, and event space. Montauk is a historic and highly sought-after coastal community known for its scenic beaches, state parks, resorts, and restaurants. Among its most notable attractions is the iconic Montauk Point Lighthouse and Montauk Point State Park. The subject property is accessible from Montauk Highway and is located just minutes from the Montauk Airport.
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