$3,500,000 – Brooklyn, NY (Williamsburg)

In May of 2024, Emerald Creek Capital provided a $3,500,000 bridge loan in the Williamsburg neighborhood of Brooklyn, NY. The loan is secured by a newly renovated four-story apartment building with 8,428 square feet of gross building area and an average net effective rent of $4,600 per month. The subject property contains 8 apartments, including 2 ground floor duplex units and 2 upper floor units with a loft area. The units feature high quality finishes, spacious layouts, and in-unit washer/dryers. Williamsburg is one of Brooklyn’s most desirable residential neighborhoods in New York, directly across the Brooklyn Bridge from Manhattan. The area is a hub for the arts and music community and has evolved into a vibrant neighborhood of vintage boutiques, eateries, and music venues. The subject property is accessible by the L train.

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