In July of 2020, Emerald Creek Capital provided a $20,000,000 bridge loan in the Tribeca neighborhood of New York, NY. The condominium inventory loan is secured by four residential units and one retail unit totaling 25,139 SF of NRA. Originally built in 1881, the property has undergone a restoration of the ornamental façade, renovation, and the addition of penthouse units. Subject to landmark designation, the luxury condominium development was designed by world-renowned architect Shigeru Ban. Ranging from 4 to 5 bedrooms in size, each residential unit is configured as a duplex with modern appliances, high ceilings, oversized windows, and living room ceiling heights up to 25 feet. The two penthouse units each have a private terrace and balcony. The full-service building offers amenities including a fitness center, yoga studio, and lounge. Tribeca is one of Manhattan’s most desirable areas, known for its cobblestone streets, luxury loft-style apartments, and some of the most notable restaurants, entertainment, and art galleries in New York. The subject property benefits from access to the 1, A, C, E, 6, J, Z, N, Q, R, and W subway lines.
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