In June 2016, Emerald Creek Capital provided a $4,000,000 acquisition loan secured by a 11,150 SF development site located in Bushwick, Brooklyn. The subject site is located entirely within a C4-3 zoning district with a residential zoning equivalent of R6. The maximum Floor Area Ratio permitted for commercial use is 3.4. The maximum Floor Area Ratio permitted for residential use is 2.43. The site has a maximum development potential of 53,520 SF. The site is currently improved with a vacant single story retail building totaling 11,150 SF with a full basement. The buyers plan to develop the subject with a mixed-use building containing retail, residential, and community facility. The site benefits from immediate proximity to the J & Z subway lines.
For more information please contact:
Jeff Seidler, Managing Director