In January of 2023, Emerald Creek Capital provided a $5,750,000 acquisition and renovation loan in the East Village neighborhood of New York, NY. The loan is secured by a six-story mixed-use building with an above-grade building area of 7,995 square feet. The sponsor plans to redevelop the subject property into high-end apartments above a 1,800-square-foot retail space. The residential unit mix will consist of two and three-bedrooms. Home to a mix of professionals, students, and artists, the East Village neighborhood offers a variety of hip restaurants, bars, and shops in addition to a vibrant art and music scene. The subject property benefits from access to the 6, L, R, W, M, and F subway lines.
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