In May of 2021, Emerald Creek Capital provided a $2,750,000 bridge loan in the Borough Park neighborhood of Brooklyn, NY. The loan is secured by a newly constructed multifamily building with three spacious high-quality units and 6,091 square feet of gross building area above-grade. The subject property is configured as a four-bedroom duplex on the 1st and cellar level, and two five-bedroom apartments on the second and third floors each with a private balcony. The duplex unit includes a garage and a glass-enclosed sunroom overlooking a private garden. All the units have high ceilings, crown moldings, floor-to-ceiling windows, and large chef’s kitchens with European appliances. Borough Park is a desirable neighborhood of Brooklyn with a high demand for multifamily properties. The subject property is conveniently located within walking distance of various retail stores and eateries, with access to the D subway line on New Utrecht Avenue.
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