In November 2015, Emerald Creek Capital provided a $6,750,000 acquisition loan secured by a 3,715 SF development site in the NoLIta neighborhood of Manhattan, NY. The site falls within the Little Italy Special District and has a zoning floor area of 24,148 SF. The Borrower plans to develop the site into an eight-story residential condominium building with grade-level retail. The site is located steps from the F subway line and benefits from access within a five-block radius to the 4, 6, N, Q, R, B, D, M J, and Z subway lines. Emerald Creek’s expeditious financing enabled the buyer to acquire the site at an attractive price.
For more information, please contact:
Jeff Seidler, Managing Director