In November 2017, Emerald Creek Capital provided a $9,000,000 acquisition loan on the Upper West Side of Manhattan in New York, NY. The loan is secured by a 2,554 square foot development site containing 30,648 square feet of buildable area. The site is currently improved with a five-story 8,324 square foot mixed-use building that the borrower plans to convert into a 20-unit condominium building with ground-floor retail. The Upper West Side is a vibrant neighborhood characterized by streets lined with pre-war apartment buildings and townhouses. The area enjoys prominent retail corridors and attractions such as Lincoln Center, Museum of Natural History, Central Park and Riverside Park. The subject property benefits from access to the 1, 2, 3, C, and B subway lines.
For more information, please contact:
Mark Bahiri, Managing Partner