In July of 2019, Emerald Creek Capital provided a $2,700,000 acquisition loan in the Bushwick neighborhood of Brooklyn, NY. The loan is secured by a three-story mixed-use building containing four residential units and two ground floor commercial units. The building is situated on a 3,750 square foot corner lot with 9,113 square feet of gross building area. The borrower plans to use a portion of the loan proceeds to renovate the four residential units, maximizing the gross potential revenue. Bushwick is a popular residential neighborhood among families and young professionals. The gentrification of trendy Williamsburg to the north continues to spread through Bushwick resulting in a lively restaurant, bar, and art scene. The subject property is easily accessible by the L and M trains.
For more information, please contact:
Check out our interactive map for a comprehensive look at our nationwide lending activity.