In March of 2014, Emerald Creek Capital provided a one year $3,300,000 commercial bridge loan in the East Village and Harlem neighborhoods of Manhattan, NY. On a 25’ X 106’ lot, the East Village site is currently zoned R8B with a C2-6A in the Special Transit Land Use District. It has a maximum FAR of 6.02 for a residential building. The site can be developed with a maximum “as of right” FAR of 16,141 SF of building area. Built on a 75′ X 100′ site, the Harlem property is currently improved with a four-story, 22,500 SF mixed use building. The site is zoned C6-4D, mixed use commercial and residential, falling within the 125th street special purpose district. With an FAR of 6.02, the maximum floor area is 45,565 SF.
For more information, please contact:
Jeff Seidler, Managing Director