In March of 2026, Emerald Creek Capital provided a $37,000,000 bridge loan in the Chelsea and Midtown West neighborhoods of New York, NY. The loan is secured by four development sites encompassing 59,389 square feet, with a combined buildable area of 357,702 square feet. The parcels are currently improved with three commercial buildings and a parking garage, which the sponsor plans to convert into self-storage facilities. Chelsea and Midtown West are well-suited for self-storage due to dense populations, high renter concentrations, and consistent demand for off-site storage. One of the sites is situated on a prime corner, and the other three are contiguous lots with advantageous frontage. The properties also benefit from excellent accessibility on Manhattan’s West Side, with convenient access to the West Side Highway, major north–south avenues, and the A, C, E, 1, 2, 3, and 7 subway lines, as well as multiple bus routes.
For more information, please contact:
Matt Fantuzzi, Senior Vice President
(646) 237-2570
mfantuzzi@emeraldcreekcapital.com
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