In September of 2023, Emerald Creek Capital provided a $3,750,000 acquisition loan in the Coconut Grove neighborhood of Miami, FL. The loan is secured by a 6-unit multifamily building with 9,612 square feet of net rentable area. The subject property contains 33,784 square feet of buildable area, offering significant value-add potential upon redevelopment. Located along Biscayne Bay, Coconut Grove is a historic neighborhood known for its laid-back and bohemian atmosphere, lush vegetation, and diverse cultural scene. The upscale community is home to various boutiques, open-air markets, restaurants, marinas, and sailing clubs. The subject property is located in close proximity to Interstate 95, Route 9, and Route 976.
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