In August of 2022, Emerald Creek Capital provided a $6,600,000 acquisition loan in the Upper East Side neighborhood of New York, NY. The loan is secured by a 5-story mixed-use building with 10,845 square feet of gross building area. The subject property contains 16 residential units that the sponsor plans to renovate, meeting market demand for modern high-end apartments. On the ground floor is a 1,975-square-foot commercial unit occupied by a popular restaurant with a long-term lease in place. The Upper East Side is one of Manhattan’s most desirable neighborhoods, home to some of the best restaurants, museums, and medical institutions. The subject property is within walking distance of Central Park and the East River, and accessible by the 6 and Q trains.
For more information, please contact:
Check out our interactive map for a comprehensive look at our nationwide lending activity.