In April of 2021, Emerald Creek Capital provided a $5,000,000 bridge loan in the Midtown East neighborhood of New York, NY. The loan is secured by a 4,410 square foot corner lot with 133 feet of frontage and 52,928 square feet of buildable area. The site is currently improved with a two‐story mixed-use building consisting of five ground-floor retail spaces and a medical therapy center on the second floor. Due to its prime location in bustling Midtown East, the subject property is well-positioned for further development to take advantage of the available buildable area. Midtown East is a central and vibrant neighborhood with a high concentration of office buildings, retail shopping, and residential towers. The area is home to some of Manhattan’s most iconic skyscrapers and landmarks, including the Chrysler Building and United Nations. The subject property is accessible by the E, M, 4, 5, 6, 7, and Time Square Shuttle trains in addition to the Metro-North Railroad at Grand Central Terminal.
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