In May of 2019, Emerald Creek Capital provided a $3,500,000 bridge loan in the Astoria neighborhood of Queens, NY. The loan is secured by five adjacent multifamily and mixed-use buildings with a combined site area of 14,733 square feet and 188 feet of combined frontage. The buildings consist of three 2-family townhouses, one 3-family townhouse, and one 8,375 square foot mixed-use building containing two apartments and ground-floor retail. Directly across the river from Manhattan, Astoria is a diverse waterfront neighborhood known for its trendy restaurants and bars, cultural institutions, and a multitude of small businesses. The community continues to undergo residential development, appealing to families and young professionals alike. The subject property is easily accessible by the N and W subway lines.
For more information, please contact:
Mike Cleaver, Managing Director