In October of 2018, Emerald Creek Capital provided a $3,000,000 bridge loan in the Tribeca neighborhood of New York, NY. The loan is secured by a five-story mixed-use building situated on a 1,120 square foot corner lot with 5,625 square feet above grade. The borrower plans to redevelop the building into a six-story townhome, taking advantage of the 6,160 maximum buildable square feet. Additional amenities will include a two-car garage and private roof terrace. As one of Manhattan’s most desirable neighborhoods, Tribeca is known for its cobblestone streets, luxury loft-style apartments, and some of the most notable restaurants, entertainment, and art galleries in New York. The subject property sits one block from the Hudson River waterfront, and benefits from the 1, A, C, E, N, Q, and R trains.
For more information, please contact:
Jeff Seidler, Managing Director