In March of 2020, Emerald Creek Capital provided a $2,650,000 bridge loan in the Kingsbridge neighborhood of New York City. The loan is secured by a 6,061 square foot retail building situated on a 5,000 square foot corner lot with 150 feet of frontage. Faced with a maturing mortgage, Emerald Creek’s loan provided the sponsor with enough time to execute a long-term lease with a national credit tenant. The subject property is located on Broadway, an active commercial corridor providing direct access to Manhattan to the south and Westchester County to the north. Across from the subject property is a 114,723 square foot retail center containing major national tenants including Five Below, Bob’s Discount Furniture, and TJ Maxx. The subject property is easily accessible by the 1 train and a variety of bus lines.
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