In October of 2024, Emerald Creek Capital provided a $6,575,000 acquisition and renovation loan in the Williamsburg neighborhood of Brooklyn, NY. The loan is secured by three adjacent mixed-use buildings consisting of eight residential units and three retail spaces across 17,500 square feet of gross buildable area. The subject property is situated on a corner lot with 175 feet of frontage. The sponsor plans to reposition the collateral to meet market demand for luxury rentals by renovating the residential units, common areas, and building facades. Williamsburg is one of Brooklyn’s most desirable residential neighborhoods, directly across the Brooklyn Bridge from Manhattan. The area is a hub for the arts and music community and has evolved into a vibrant neighborhood of vintage boutiques, eateries, and music venues. The subject property is easily accessible by the L, J, and M trains.
For more information, please contact:
Mike Cleaver, Managing Director
(212) 239-6845
mcleaver@emeraldcreekcapital.com
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