In November of 2020, Emerald Creek Capital provided a $5,000,000 bridge loan in the Harlem neighborhood of New York, NY. The loan is secured by three adjacent parcels forming a 15,945 square foot block-through development site with 114,804 buildable square feet. The site has a depth of 200 feet and 158 feet of combined frontage. The subject property is ideally located for new development on 125th Street in Harlem, one of Manhattan’s most active retail corridors. Harlem is a lively community with a rich cultural history, known for its jazz clubs, eclectic restaurants, and landmarks like the famous Apollo Theater. The area continues to see an influx of investment and redevelopment with a number of newly constructed apartment buildings. The subject property is easily accessible by the A, B, C, D, 2, 3, 4, 5, 6, and 1 subway lines in addition to the Metro-North Railroad at the 125th Street Station.
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