$2,750,000 – Brooklyn, NY (Fort Greene)


In March 2016, Emerald Creek Capital provided a $2,750,000 construction loan in the Fort Greene neighborhood of Brooklyn, NY. The 20 X 100 site is currently improved with a vacant three-story plus garden level 4-unit townhouse. The site is zoned R7A which permits a maximum floor area ratio (FAR) of 3.45 for residential development. Redevelopment plans include a gut renovation to convert the property into a four-story, four-unit condominium building. The subject property is located just one block from the Barclays Center and enjoys access to the 2, 3, 4, 5, C, D, G, N, and R trains in addition to LIRR’s Atlantic Terminal.