In June of 2018, Emerald Creek Capital provided a $30,000,000 bridge loan in the Red Hook neighborhood of Brooklyn, NY. The loan is secured by a 7.7-acre waterfront site with plans for the development of over 600,000 square feet of creative office space. Red Hook is a vibrant neighborhood known for its eclectic restaurants, shops and artistic community. One of the few industrial sites remaining in Brooklyn, the property is adjacent to the only IKEA in New York City, as well as Van Brunt Street, Red Hook’s primary retail corridor. The subject property benefits from the F and G subway lines, as well as the New York Water Taxi with access to Lower Manhattan.
For more information, please contact:
Mark Bahiri, Managing Partner