In February of 2015, Emerald Creek Capital provided a $7,200,000 bridge loan in the East Village neighborhood of Manhattan, NY. The acquisition loan was secured by two mixed-use properties. Built on a 23 X 100 ft lot, the first property is currently improved with a 7,753 SF three-story mixed-use building comprised of two commercial units and two residential units. Built on a 37 X 102 ft lot, the second property is currently improved with a 4,648 sf two-story retail building. The two attached properties have an additional 8,552 SF of air rights providing redevelopment potential. Located across the street from the MTA station on 2nd ave and Houston, the site benefit from immediate access to the F subway line. Other subway lines servicing the East Village are the 4,5,6,L, N,Q, R Trains.
For more details, please contact:
Mike Cleaver, Managing Director