In June of 2023, Emerald Creek Capital provided a $3,840,000 acquisition loan in the Paulus Hook neighborhood of Jersey City, NJ. The loan is secured by a two-story, 13,686-square-foot mixed-use property situated on a .34-acre corner lot. The site has approximately 8,000 square feet of excess area with plans for new residential development. Paulus Hook is a desirable historic district within Jersey City characterized by its tree-lined streets and charming brownstones. Walking distance to the Hudson River Waterfront and Downtown Jersey City, the neighborhood boasts a variety of shops, restaurants, and attractions. The larger Jersey City area is an increasingly popular residential and business district due to its location directly across the river from Manhattan. The subject property is easily accessible by the PATH train, Hudson-Bergen Light Rail, and multiple ferries.
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