$4,700,000 – Manhattan, NY (Union Square)

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In February of 2014, Emerald Creek Capital provided a one year $4,700,000 commercial bridge loan in the Union Square neighborhood of Manhattan, NY. On a 22.5’ X 103.25’ lot, the subject property is currently improved with a 5,675 SF four-story mixed use building. Recently vacated, the building is currently comprised of below grade restaurant space and five residential units. With a FAR of 6.02, the borrower intents on maximizing floor area. A portion of the Emerald Creek Capital’s proceeds were used to buy out the last tenant so the site can reach its highest and best use.

For more information, please contact:

Jeff Seidler, Managing Director
(212) 239-6517
jseidler@emeraldcreekcapital.com

 

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