In June 2015, Emerald Creek Capital provided a $4,500,000 loan in the Graniteville neighborhood of Staten Island, NY. The loan was secured by a 26,350 SF retail center situated on a 66,000 SF lot off of Forest Avenue. The retail spaces are currently under long-term leases by national tenants including Family Dollar, Clean Rite Center, and Checkers. In order to close on the acquisition of another property, as part of a 1031 exchange, the borrower required a quick turnaround cash out from the subject property. The borrower turned to Emerald Creek Capital for certainty of execution and was able to expeditiously obtain the financing needed.
For more information, please contact:
Jeff Seidler, Managing Director