In October of 2018, Emerald Creek Capital provided a $3,000,000 refinance in the Kips Bay neighborhood of New York, NY. The loan is secured by three adjacent mixed-use and multi-family properties totaling 12,480 square feet of gross buildable area. The borrower plans to redevelop the sites into a luxury residential tower complete with ground floor retail. Located in the heart of Manhattan, Kips Bay is a popular neighborhood among students and young professionals who benefit from an array of dining, shopping, and nightlife options. The subject property is accessible by the 4, 6, N and R trains.
For more information, please contact:
Matt Fantuzzi, Vice President